Property & Casualty Insurance

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MPHB Capital Bhd's subsidiary disposes 49 pct stake in Multi-Purpose Insurans Bhd to Generali Asia N.V

Wednesday, 17 Dec 2014 07:00pm EST

MPHB Capital Bhd:Says its subsidiary Multi-Purpose Capital Holdings Berhad enters into a conditional share purchase agreement (SPA) with Generali Asia N.V. for the disposal of 49 pct stake in Multi-Purpose Insurans Bhd (MPIB) for a cash consideration of about 355.8 mln ringgit.MPCHB has also, on even date, entered into a call and put option agreement with Generali Asia for the grant by MPCHB of call and put options to Generali Asia.Transactions expected to be completed by early 2015.

Euler Hermes completes legal restructuring into single Belgian risk carrier

Tuesday, 4 Nov 2014 11:45am EST

Euler Hermes SA:Completes legal restructuring into single Belgian risk carrier.Completed rationalization of its legal structure by merging two of its main remaining insurance companies -located in France and Germany - into its risk carrier in Belgium, Euler Hermes SA.Says entity is supervised by National Bank of Belgium.

Fairfax Financial Holdings Limited Integrates MFX With IKYA to Form Global Technology Services Group

Monday, 3 Nov 2014 05:02pm EST

Fairfax Financial Holdings Limited:Says that Ray Roy has determined to retire in Jan. 2015 as CEO of Fairfax's subsidiary, MFXchange Holdings, Inc. but will remain as Non-Executive Chairman.In planning for Roy's retirement, Fairfax, in close consultation with Roy, is integrating MFX with the IKYA Group, a Fairfax subsidiary within the Thomas Cook India Group.With a strategic focus designed to leverage technology capabilities of both organizations and create growth opportunities for combined entities on a global basis.

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