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Merger operations are likely

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Magazine Issue: 
Insurers facing the digital turning point [3]
Magazine date: 
Jul 2016

According to analysts, a wave of concentration is simmering around the insurance sector. The companies that are no longer able to meet the minimum share capital requirement will be compelled to merge in order to pursue their operations beyond December 31, 2016. Life and non life insurers are required to have a minimum capital of 550 million PHP (11.7 million USD) by the end of this year. Those having the necessary capital are lying in wait for any opportunity of acquisition. That is the case of Stronghold Insurance whose talks with Milestone Guaranty and Insurance and BF General Insurance have been finalized.

The official documents to trigger the merger process have been submitted to the authorities. Stronghold is today in talks with Premier Insurance and Country Bankers.

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Thu, 29/09/2016 - 09:01

Source URL: https://www.atlas-mag.net/en/article/merger-operations-are-likely

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[3] https://www.atlas-mag.net/en/issue/insurers-facing-the-digital-turning-point
[4] http://www.atlas-mag.net/en/article/axa-made-an-acquisition-over-filipino-market
[5] http://www.atlas-mag.net/en/article/allianz-buys-51-of-pnb-life-insurance
[6] http://www.atlas-mag.net/en/article/the-insurance-penetration-rate-is-likely-to-attain-3-by-2019