insurance
Chinese insurtech player Insgeek gets $25m Series C
SIG and China Renaissance New Economy Fund have co-led a $25 million Series C round for Insgeek, a Chinese insurance technology specialist.
Chinese insurance tech player raises $14m Series A
Chinese health insurance platform Nuanwa Technology has raised a RMB100 million ($14 million) Series A round led by Longfor Capital, a unit of real estate developer Longfor Group.
Chinese online insurance player raises $55m in US IPO
Huize Holding, a Shanghai-based insurance platform backed by SAIF Partners, has raised about $55 million in a US IPO.
Kedaara invests $28m in Indian health insurer
Indian private equity firm Kedaara Capital invested INR2 billion ($28 million) to acquire a minority stake in the healthcare insurance unit of Religare Enterprises.
MassMutual establishes second VC fund for Southeast Asia
US-based Massachusetts Mutual Life Insurance Company (MassMutual) has established a second venture capital fund for Southeast Asia with a corpus of $100 million.
Pemba's exit from Australian insurance broker falls through
Australian insurance broker network AUB Group has terminated its agreement to acquire Pemba Capital Partners’ 49% stake in Coverforce Holdings, a transaction that was opposed by the company’s founder.
Carlyle makes partial exit from India's SBI Life
The Carlyle Group has made a partial exit from India-listed life insurance company SBI Life, selling one-third of its stake for approximately INR28.2 billion ($392 million).
Pemba exit from Australia's Coverforce challenged by founder
Australian insurance broker network AUB Group has agreed to buy a 49% stake in Coverforce Holdings from Pemba Capital Partners with a view to taking full ownership, but the company’s founder is seeking to block the transaction.
Boyu leads round for Chinese health insurance platform
Waterdrop, a Chinese online health insurance platform that runs mutual aid programs and provides brokerage services, has raised RMB1 billion ($145 million) in Series C funding led by Boyu Capital.
Kyobo Life: The mother of all puts
Put options amount to threats seldom acted upon. By demanding that the chairman of Korea’s third-largest life insurer buy back their shares, a group of investors has taken Asian PE into uncharted territory
Ekuinas exits Malaysia healthcare businesses
Malaysian government-backed private equity firm Ekuinas has exited its entire majority holdings in local healthcare players MediExpress and PMCare to Japan’s Sumitomo Corporation.
Australia's King River launches debut VC fund
Newly established Australian venture capital firm King River Capital has confirmed the launch of its debut fund and two initial investments.
Deal focus: Patience pays off for True North
True North realizes a two-year goal with the acquisition of a controlling stake in Indian health insurance provider Max Bupa
Carlyle invests $653m in India’s SBI Life
The Carlyle Group has acquired a 9% stake in India-listed life insurance company SBI Life for INR46.4 billion ($653 million).
India's True North acquires Max Bupa for $72m
True North has acquired a 51% stake in Max Bupa Health Insurance, a joint venture between multinational insurance giant Bupa Group and Indian conglomerate Max India, for INR5.1 billion ($72 million).
Deal focus: Singapore Life delivers insurance update
Singapore Life has accelerated plans to digitize the insurance and wealth management industry following a $33 million Series B from Aberdeen Standard Investments and Aflac
Aberdeen Standard backs insurtech specialist Singapore Life
Aberdeen Standard Investments has committed $13 million to financial technology start-up Singapore Life, taking the company’s total capital raised to date to $97 million.
Aflac invests $20m in PE-backed Singapore Life
US insurance giant Aflac has invested $20 million in Singapore Life, a digitally-focused financial technology start-up backed by UK private equity investor IPGL.
Hong Kong online insurance start-up gets $30m Series A
Hong Kong-based Bowtie Life Insurance has raised $30 million in Series A funding and become the first company in the territory to receive a “virtual” license to provide online-only services.
Taiwan LPs: Increased exposure
As much as $10 billion could be released for investment in private equity following a hike in alternatives allocations for Taiwanese insurers. However, the major players will still deploy their capital with caution
Taiwan loosens rules on PE investment by insurers
Taiwan’s Financial Supervisory Commision, which is responsible for the island’s securities markets, banking, and insurance sector, has increased the cap for Taiwanese insurers to invest in private equity.
MassMutual sets up $50m Southeast Asia VC fund
US-based Massachusetts Mutual Life Insurance Company (MassMutual) has established a $50 million Southeast Asia-focused VC fund via its in-house financial technology investment unit.
SoftBank Vision Fund forms JV with Chinese insurer Zhong An
SoftBank Vision Fund has entered into a technology development joint venture (JV) with Zhong An, a PE-backed Chinese insurance company. It will see each party contribute $100 million.
Warranty and indemnity insurance: The information barrier
Warranty and indemnity insurance is growing in popularity in Asia, particularly in emerging markets. A lack of understanding is the biggest impediment to its widespread adoption