Dec 19 (Reuters) - China Life Insurance Co Ltd <601628.SS>2628.HK::SAYS IT PLANS TO SET UP JV WORTH 4.16 BILLION YUAN ($629.94 million) FOR ACQUISITION.
Dec 19 (Reuters) - Assicurazioni Generali says::AGREES TO SELL NON-LIFE RUN-OFF PORTFOLIO OF ITS BRITISH BRANCH, CONSISTING OF APPROXIMATELY 300 MILLION EURO OF LIABILITIES.TO SELL THE PORTFOLIO TO COMPRE GROUP.TRANSACTION FURTHER STRENGTHEN GROUP'S SOLVENCY CAPITAL POSITION.
Dec 7 (Reuters) - Storebrand Asa ::IN ACCORDANCE WITH SHARE PURCHASE AGREEMENT ENTERED INTO, STOREBRAND HAS TODAY ACQUIRED ALL OF A-SHARES AND 10,000 OF B-SHARES IN SKAGEN AS.
Nov 14 (Reuters) - Axa ::* CEO tells Le Monde newspaper in interview that he has decided to keep AXA Investment Managers.* CEO Thomas Buberl had sent staff an Email last month, in which he said that AXA had been approached by a number of players interested in doing a deal with its asset management arm, but the company continued to regard the business as a strategic asset nL8N1MN5BM.* AXA had been in talks with French banks, such as BNP Paribas and Natixis , over a possible tie-up in asset management, aiming to build a business with at least 1 trillion euros ($1.2 trillion) of assets under management, sources familiar with the matter had told Reuters..
Nov 14 (Reuters) - Aviva Plc :AVIVA PLC - AVIVA TO ACQUIRE IRISH INSURER FRIENDS FIRST.AVIVA PLC - TO ACQUIRE IRISH INSURER FRIENDS FIRST LIFE ASSURANCE COMPANY DAC FOR A CASH CONSIDERATION OF EUR 130M.AVIVA PLC - AVIVA EXPECTS TRANSACTION TO MEET GROUP'S OPERATING RETURN ON CAPITAL HURDLE FROM YEAR ONE AND TO SIGNIFICANTLY EXCEED HURDLE THEREAFTER.
Nov 13 (Reuters) - Old Mutual Plc :Old Mutual plc ("old mutual") today announces that sale of second tranche of OM Asset Management ("omam") shares to HNA Capital US has completed.Old Mutual's remaining holding in OMAM is now 5.5%.
Oct 26 (Reuters) - Metlife Inc :Principal to acquire MetLife afore in Mexico.Principal Financial Group - signed an agreement to acquire full ownership of MetLife Afore, S.A. De C.V..
Oct 25 (Reuters) - Storebrand Asa :Storebrand acquires SKAGEN and strengthens its position in a growing savings market.The acquisition increases the Storebrand Group's share of the of NOK 221 bn private fund savings market from 4% to 17%.SKAGEN has approximately 140,000 unit holders.Storebrand will acquire all of the A-shares, and 10 000 of the B-shares in SKAGEN, equivalent to 90.95% of the share capital in the company and 99.9% of the voting rights in the company.Will pay selling skagen shareholders a sum of NOK 1.6 billion for shares at time of transaction.75% of price will be new issued shares in storebrand asa and 25% will be in cash.in addition, there is a possibility of an additional earnout based on positive development in skagen's results and income, and a share of performance fees as a result of excess return relative to skagen funds' relevant benchmarks.cash payment will be financed by sale of short-term bonds in storebrand asa's liquidity portfolio, which will amount to nok 1.5bn after transaction.in addition to liquidity portfolio, storebrand asa has an unused credit facility of eur 240m.transaction is expected to have an immediate 2 percentage point negative impact on storebrand's solvency margin.it is expected that transaction will strengthen group's solvency margin and dividend capacity going forward.
Oct 24 (Reuters) - Storebrand ASA :has signed an agreement to take over silver's insurance portfolio for nok 520 mln.The purchase is financed by the company portfolio in Storebrand Livsforsikring AS.Silver's 21,000 policies and NOK 10 bln in pension assets will be transferred to Storebrand.It is expected that purchase will provide an operating result before tax of approximately nok 60m a year.In 2018 a negative result effect of approximately nok 45m is expected to align assumptions in new insurance portfolio and other financial effects.A deferred tax asset of nok 300m will be recognized on balance sheet to reflect tax loss carried forward loss in silver.The agreement presupposes that no more than 20 pct of silver's customers object to solution by deadline set by silver and public approvals.Transaction is expected to be completed during january 2018.