This week in Insurance: Large corporations perceive M&As to implement technologies and introduce insurance products
Mergers and Acquisitions AXA to sell Singapore unit to raise USD 700 Mn HSBC Holdings Plc and Malayan Banking Bhd.’s insurance venture is among the shortlisted bidders for AXA SA’s business in Singapore, which could raise about USD 700 Mn in a sale. Read More>> MassMutual buys Great American Life Insurance Co. for USD 3.5 Bn
The deal is an opportunity for MassMutual and Great American Life to be one of the leading providers of traditional fixed and indexed annuities in major distribution channels and markets. Read More>>
Sale of Credit Agricole Romania to Vista Bank slightly delayed Vista Bank announced that it signed an agreement with the French financial group Crédit Agricole to acquire 100% of its subsidiary Crédit Agricole Romania. The acquisition needs to be approved by BNR and the Romanian Competition Council. Read More>> Blackstone acquires Allstate Life Insurance Company for USD 2.8 Bn The transaction is subject to regulatory approval with an expected closing in the second half of 2021. The transaction will reduce Allstate’s GAAP reserves by USD 23 bn. Read More>> CCI approves Axis-Max Life deal The fair trade regulator Competition Commission of India (CCI) approved the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital, and Axis Securities, increasing Axis Bank’s shareholding in Max Life by 9.9%. Read More>>Partnerships Aon and Elements of Genius collaborate in AI-powered healthcare Aon’s healthcare services platform, GoodMe, is to be powered by Elements of Genius’ voice AI technology, allowing the companies to lead in AI-powered healthcare services delivery offering immense benefits to patients. Read More>> PPCBank, Prudential reach bancassurance partnership The partnership will serve as a one-stop-shop for financial solutions that will improve customer experience and convenience. The accord will provide service packages such as wealth protection and child financial security. Read More>> Eddy teams up with AXA XL Construction Insurance The Construction Ecosystem includes more than 25 technology partners offering risk management and data aggregation services. The system also offers a tech library, providing customers convenient and easy access to AXA XL’s list of curated construction technology partners. Read More>>Executive Movement Northwestern Mutual-Chicago names Kortney Giannetti director of strategic development Northwestern Mutual-Chicago has elevated Kortney (Baeseman) Giannetti to the strategic development director, a newly created position with the Chicago-based financial planning firm. She drove the firm’s strategic growth initiatives. Read More>> Northwestern Mutual appoints Laura Deaner to Chief Information Security Officer Deaner will lead the Enterprise Information Risk & Cybersecurity team and be responsible for spearheading Northwestern Mutual’s information security strategy. Read More>> Brown & Brown names Stephen Boyd as EVP Boyd served as Brown & Brown’s Sr VPresident of Technology, Innovation, and Digital Strategy. Steve has a proven record as a leader and has experience in various operating and technology roles. Read More>> Bruno quits as Aon’s COO amid the executive shuffle John Bruno stepped down as COO amid executive changes that saw the role being passed to James Platt, who formerly was the brokerage’s business chief operating officer in London. Read More>> AXA XL brings Atradius talent to tackle complex PRCB risks AXA XL Insurance has strengthened its European political risk, credit & bond (PRCB) team with Caroline Tran’s appointment as a product leader. Read More>> Argo Group appoints new head of ceded reinsurance Specialty insurance and reinsurance underwriter Argo Group International Holdings has appointed Tom McCartney as group head of ceded reinsurance. He has been involved in shaping Argo’s reinsurance strategy. Read More>>
Latest Insights & Reports
Prudential Financial, Inc. account intelligence report PruVen Capital, a global, multistage venture firm backed by Prudential Financial, Inc, has launched its first fund with USD 300 Mn in capital to invest in emergent technology start-ups in North America, Europe, Japan, Singapore and Australia. Read more
HealthNow New York account intelligence report HealthNow has introduced a digital health monitoring app to combat problems like chronic pain and sleep challenges, and online self-screening tools to overcome depression and anxiety. Read more.
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