Insurance News ME

Brazil's Unibanco Acquires AIG Local Assets For $820 Million

SAO PAULO -(Dow Jones)- Brazilian bank Banco Unibanco (UBB) acquired certain local assets of American International Group Inc. (AIG) for $820 million, the bank said in a statement Wednesday night.

ING get approval for Ukrainian life insurance

Dutch bank ING has been given the regulatory green light to begin life insurance activities in the Ukraine.

AIG Closes on Deal to Buy Majority Stake in Telecommunications Supplier

American International Group Inc. has completed the acquisition of a majority stake in UTStarcom Inc.'s personal communications division, in a transaction valued at approximately $240 million.

BIMB to start talks with ADKM for Takafu

KUALA LUMPUR: BIMB Holdings Bhd has been given approval by the central bank to start negotiations with Abu Dhabi-Kuwait-Malaysia Strategic Investment Corporation (ADKM) for a strategic stake in Syarikat Takaful Malaysia Bhd (Takaful Malaysia).

ING to acquire Turkish voluntary Pension Fund Oyak Emeklilik for EUR 110 million

ING announced on June 17 it has reached an agreement with OYAK Group to acquire the voluntary pension fund Oyak Emeklilik.

Allianz Upgrades 2 Turkish JV Stakes For EUR373.2 Million

Germany's Allianz SE (AZ), Europe's largest insurer by gross premiums, Monday said it is expanding its business in Turkey by increasing stakes in two joint ventures to own a majority in both companies.

Aviva says buying insurance arm of RBS 'would not make sense'

Aviva, Britain's biggest insurer, has ruled itself out of the running to buy Royal Bank of Scotland's general insurance division, leaving the way open for overseas insurers or buyout firms to snap up the business, which includes Direct Line and Churchill.

MNRB To Acquire 9.99 Pct Stake In British Islamic Insurance Firm

KUALA LUMPUR, April 9 (Bernama) -- MNRB Holdings Bhd announced Wednesday it will subscribe up to 71.676 million new "A" shares representing 9.99 percent of the issued share capital of UK-based British Islamic Insurance Holdings Ltd (BIIH) for up to 8.96 million pound sterling (about RM57.8 million).

Generali has potential 4.5 billion to 5 billion euros for acquisitions

Assicurazioni Generali SpA has a potential war chest of 4.5 billion to 5.0 billion euros for acquisitions, Generali CEO Giovanni Perissinotto said.

Aon Corp. Completes Sale of Combined Insurance, Sterling Life

Aon Corporation today announced that it has completed the sale of Combined Insurance Companies of America to the ACE Group of Companies for $2.56 billion, and of Sterling Life Insurance Companies to Munich Re for $352 million.