b'TABLE OF CONTENTSclients worldwide for 25 years. Howden, whoAffin Bank Bhd. (Affin Bank). It also filed already has a presence in Hong Kong, said theregulatory applications for approval to acquire the acquisition would reinforce its commitment to theremaining 51% of shares in MPI Generali Insurans Hong Kong market. Bhd. (MPI Generali) from its joint venture partner Insurtech transactions were also active in HongMPHB Capital. Upon completion, Generali would Kong. In July 2021, Hong Kong-based OneDegree,hold 70% and Affin Bank would hold 30% shares of an insurtech firm raised US$28 million in capitalMPI Generali. Generali apparently plans to combine through a Series B1 investment round. The companyAAGI and MPI Generali to create the second largest has secured more than US$70 million, to date.P&C insurer in Malaysia. There would also be a Investors in the companys Series B investmentbancassurance agreement with Affin Bank for the round included Sun Hung Kai & Co Limited, asale of conventional P&C and life solutions. leading Hong Kong-listed alternative investment financial services institution. OneDegree is the firstSingaporetech insurer authorized to operate as a virtualIn August 2021, HSBC Insurance (Asia-Pacific) general insurer in Hong Kong, and also focuses onHoldings, a subsidiary of HSBC Holdings, entered providing digital solutions for insurance carriers andinto an agreement to acquire 100% of AXA providers. OneDegree stated that the proceedsFinancial Services (Singapore) Pte Ltd. (AXA from the investment will be channeled towards itsSingapore) for US$575 million, subject to new technology, product development andregulatory approval. AXA Singapore is currently expansion across Business-to-Customer (B2C)the eighth-largest life insurance provider and and Business-to-Business (B2B) verticals.fifth-largest P&C player in Singapore. India South KoreaIn September 2021, Catamaran Ventures sold its 51%In November 2021, Shinhan Financial Group entered stake in Aon India Insurance Brokers Private Limitedinto an agreement to acquire BNP Paribas Cardif (Aon India Insurance Brokers) to Aon. UponGeneral Insurance, a joint venture established in completion, Aons stake in Aon India Insurance2014 among Shinhan Life, BNP Paribas Cardif and Brokers would increase from 49% to 100%. Aon is aAXA. After the acquisition, Shinhans stake in BNP global professional service company which providesParibas Cardif General Insurance would increase risk, retirement and health solutions.from 5.46% to 94.54%. Shinhan Financial Group is one of the largest financial groups in Korea and Malaysia provides services ranging from banking, investment In June 2021, Assicurazioni Generali S.p.A.management to life insurance.(Generali) agreed to purchase 53% of AXA Affin General Insurance Bhd. (AAGI) and 70% of AXA Affin Life Insurance Bhd. from AXA Asia SAS and MAYER BROWN |23'