bancassurance News

Italy’s No. 2 Insurer Unipol Aims to Boost Bank Distribution Channel

Italian financial group Unipol aims to generate 1 billion euros ($1.1 billion) in capital over the next three years to boost its finances and have money for investments. Unveiling its “Stronger/Faster/Better” plan for 2025-2027, Italy’s second biggest insurer said on …

Malaysia’s Top Bank Is Said to Weigh Options for Insurer Etiqa

Malayan Banking Bhd. is considering options including buying out Ageas SA’s minority stake in Etiqa as Malaysia’s biggest lender seeks to boost the value of the Southeast Asian insurer, according to people with knowledge of the matter. Maybank, as the …

DBS Group Considers Forming Insurance Partnerships in India, Taiwan: Sources

DBS Group Holdings Ltd. is considering forming insurance partnerships in India and Taiwan to expand its services in the region, according to people familiar with the matter. The Singapore-based lender is working with Goldman Sachs Group Inc. as an adviser …

RHB Bank Weighs Bancassurance Options as Tokio Marine Pact Ends Soon: Sources

Malaysia’s RHB Bank Bhd. is asking financial advisers for proposals for its partnership to sell insurance in its branches, as its deal with an arm of Japan’s Tokio Marine Holdings Inc. is set to expire at the end of next …

Credit Agricole Strikes Long-Term Bancassurance Deal with Banco BPM

Credit Agricole on Friday struck a long-term bancassurance partnership with Italy’s Banco BPM, strengthening ties with the country’s number three lender, in which it is already the top investor. The French bank, which took a 9.2% stake in Banco BPM …

Chubb in Advanced Bancassurance Talks With Hong Kong’s Hang Seng Bank: Sources

Chubb Ltd. is in advanced talks to form an insurance partnership with Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, according to people familiar with the matter. The parties are hammering out the details …

Hong Kong’s Hang Seng Bank Seeks New Bancassurance Partner After QBE Deal Expires

Hang Seng Bank Ltd., a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance Group Ltd. expired, according to people familiar with the matter. Hang Seng Bank …

Liberty Mutual Insurance Acquires Malaysian Insurer AmGeneral

Liberty Mutual Insurance has completed the acquisition of Malaysian insurer AmGeneral Insurance Berhad, which is expected to make Liberty Mutual the country’s largest auto insurer. AmGeneral was previously 51%-owned by AmBank Group and 49%-owned by Insurance Australia Group. Liberty Insurance …

Credit Agricole Italy Weighs Investing in Banco BPM’s Insurance Business

Credit Agricole Italy is interested in investing in the insurance activities of Banco BPM, the French banking group’s Italy head said on Monday. Banco BPM has exercised a call option to gain full ownership of its insurance joint-venture with France’s …

HSBC’s New Insurance Chief Executive Eyes ‘Crucial’ New Deals in China

Greg Hingston, who took over as global chief executive of HSBC Holdings Plc’s insurance unit in January, has had a busy quarter, closing the group’s first acquisition in a decade, building out the China business and eyeing new deals to …