bancassurance News

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 …

Allianz and UniCredit Expand Longstanding Multi-Country Bancassurance Agreement

Allianz and UniCredit have signed a multi-country agreement to build on the companies’ longstanding bancassurance partnership which began in 1996. The agreement covers UniCredit’s footprint in Italy, Germany, Central and Eastern Europe, where the company serves more than 15 million …

Generali Completes Purchase of AXA’s Greek Units, Forms Bancassurance Agreement

Generali has completed the acquisition of AXA Group’s Greek subsidiary, AXA Insurance S.A., for €167 million ($204 million) in cash. The acquisition, which comprises AXA’s life & savings and property/casualty businesses (P/C), was first announced on Dec. 31, 2020. As …

Aviva Pushes Back Deadline for Final Offers for Polish Operations: Sources

LONDON – Aviva has pushed back the deadline for final offers for its Polish operations to late March as the British insurer is still haggling with Spanish lender Santander over the renewal of a key distribution agreement in Poland, sources …

Italy’s Banco BPM to Acquire Full Control of Insurance Joint Ventures with Cattolica

MILAN — Italy’s Banco BPM said it would end an insurance partnership with Cattolica by acquiring full control of their joint-ventures, in a move that may ease a mooted tie-up with BPER Banca. Banco BPM said late on Tuesday it …

UK Insurer Aviva to Sell Vietnamese Business to Canada’s ManuLife

British insurer Aviva PLC is selling its Vietnamese business to Canadian insurer ManuLife Financial Corp, it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda Blanc, is looking …