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Insurance companies in 2023: creations, mergers and acquisitions
February 28, 2024
Creations / Acquisitions / Mergers
- January:
- February:Saudi Arabia: Cigna Worldwide Insurance Company granted license in Saudi Arabia United Arab Emirates: Optio Re MENA begins operations in Dubai Spain: Everest Insurance sets up in Spain
United States: Brookfield Reinsurance to acquire Argo China: Prudential to establish a branch in Macau Oman: Merger between Oman Qatar Insurance and Vision Insurance finalized Qatar: Al Alfia Holding acquires a minority stake in Seib Insurance and Reinsurance Tunisia: Florus Invest Holding acquires 5.33% of the capital of Assurances Maghrebia Vie - March:Africa: Actuelia expands its activities in Africa Saudi Arabia: Chedid Re Europe opens a regional head office in Saudi Arabia Cameroon: The CNPS acquires a stake in Chanas Assurances Vie Kuwait: Kuwait Insurance acquires a majority stake in National Takaful Insurance Philippines: Merger between AXA Philippines and Charter Ping An
- April:Bahrain: Broker Howden to launch operations in Bahrain Egypt: GIG acquires AIG Egypt United Arab Emirates:
- Nexus Underwriting closes acquisition of Spectrum Risk Management
- SM Re, a new reinsurance company in Dubai
- Sukoon approved to acquire Ascana France: La Banque Postale and CNP Assurances combine their insurance operations Kuwait: Fairfax to raise its stake in the capital of GIG Morocco: Diot-Siaci and Amethis acquire a stake in ASK Gras Savoye Senegal: SUNU Group completes acquisition of BICIS - May:Bermuda: RenaissanceRe acquires Validus Re from AIG Spain: The European Commission approves AXA's acquisition of GACM España Guinea: VidaSEguros GE, first life insurance and capitalization company in Equatorial Guinea World: Brown & Brown acquires Kentro Capital Nepal: Merger between three Nepalese life insurers Tunisia: Al Baraka Bank acquires 19.15% of the capital of El Amana Takaful
- June:
- July:Africa: The new joint venture SanlamAllianz comes into being Saudi Arabia: ADNIC to acquire 51% stake in Allianz Saudi Fransi United Arab Emirates:
- Sukoon to acquire Chubb Tempest Life Reinsurance's life portfolio
- Sukoon Insurance opens a subsidiary in the Dubai International Financial Centre
- Salama and Takaful Emarat terminate planned merger United States:
- Arthur J. Gallagher acquires Eastern Insurance Group
- Brookfield Reinsurance to acquire American Equity Investment Life Holding Company France: SMABTP and MACSF acquire a majority shareholding of CCR RE, in the course of its privatisation Mexico: Mapfre acquires Insignia Life World: Asset management: Generali to acquire Conning Holdings Limited United Kingdom:
- Howden acquires Media Insurance Brokers International
- Chedid Capital acquires Trilogy MGA
- Aviva acquiert AIG Life UK Russia: Renaissance Life acquires Raiffeisen Life Tunisia: Générale Assistance establishes a presence in Côte d'Ivoire - October:
- November:Saudi Arabia:
- ReTech, a new online reinsurance broker in Saudi Arabia
- Merger between Arabian Shield and Alinma Tokio Marine finalized Bahrain: Solidarity Bahrain to acquire Al Hilal Life and Al Hilal Takaful United States: Health insurance: proposed merger between Cigna and Humana India: Zurich Insurance to acquire 51% of Kotak Mahindra General Insurance Japan: Tokio Marine Holdings announces the establishment of Tokio Marine Resilience World: Brookfield Reinsurance completes acquisition of Argo Group United Kingdom: Helvetia Global Solutions establishes a branch in the UK Tanzania: East Africa Reinsurance Company opens a subsidiary in Tanzania - December:Africa: Africa Specialty Risks: creation of a Lloyd's syndicate Italy: European Commission approves Allianz's acquisition of Tua Assicurazioni Kuwait: Fairfax completes acquisition of 46.32% of GIG Malaysia: Malaysian Life Reinsurance opens Retakaful window World: Aon to acquire broker NFP Switzerland: Swiss Re acquires Fathom Taiwan: Brokerage: Gallagher opens a branch in Taiwan
