The Indonesian Financial Services Authority (Otoritas Jasa Keuangan or OJK) has finalised its set of domestic cession rules that are aimed at "improving and optimising capacity in the country". The new rules are expected to be largely welcomed by industry players after intensive engagement and feedback gathered from the market, said OJK officials.
The long drawn out, and at times acrimonious, merger/takeover saga ends with Partner Re's announcement that it had 'reached a definitive agreement' with EXOR to sell all its outstanding common shares in a USD6.9b all-cash deal, which effectively ends the so-called 'amalgamation of equals' merger with AXIS.
In sharp contrast to the 'doom and gloom' pronouncements that had pervaded the blogosphere recently suggesting the imminent demise of the traditional reinsurance industry, recent statements by senior executives of reinsurance companies announcing their second-quarter results paint a rosier picture pointing out that there are protection gaps out there for reinsurers to tap.
The continuing AXIS-Partner Re M&A saga takes a new twist as EXOR ups its bid for Partner Re to USD137.50 per share whilst raising its stake in Partner Re to 9.32%, making it the largest shareholder.
The continuing AXIS-Partner Re M&A saga takes a new twist as EXOR ups its bid for Partner Re to USD137.50 per share whilst raising its stake in Partner Re to 9.32%, making it the largest shareholder.
China investment group, Fosun continues to build up its stable of insurance company assets with a deal to acquire the remaining 80% of Bermuda-based specialty insurer, Ironshore.
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