M&A, Partnerships and Organic Growth in Life and Pensions, Q3 2007

This tracker covers merger/acquisition activity globally in the life and pensions space. It also highlights the strategic partnerships, and expansion (or contraction) of existing businesses. There is also a special focus on the important emerging markets: China, India, CEE and the Middle East.



Report Highlights
Life and pension providers are looking towards the Asian markets as key areas for expansion. China with its huge population and low current penetration rates is an obvious target. The major mergers in Europe in Q3 2007 have taken place between BMP Paribas and RBS International Securities and between Friends Provident and Resolution Life


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Contents 2
The Roundup 3
Expansion into Asian markets has been a key theme during Q3 2007 3
Smaller Asian market are also drawing the attention of the global life and pensions players 3
Central and Eastern Europe, in particular Russia are also being viewed as expansion areas 3
The major European players are consolidating their positions through M&A activity 3
The Developments 4
AIG 4
AIG's AIU Insurance granted licence to establish subsidiairy in China (Organic growth) - July 07 4
AIG enters agreement to acquire Wurttembergische und Badische Versicherungs (M&A) - August 07 4
ALLIANZ 4
Dresdner Kleinwort purchases Allianz brokerage unit (M&A) - September 07 4
Aviva 4
Aviva Life Insurance partners Apex Bank - (Partnership) - July 07 4
Aviva opens new office in Russia (Organic Growth) - August 07 4
AXA 5
Axa to sell Taiwanese operations (Sale of Business) - July 07 5
AXA and Bao Minh Insurance enter into partnership in the Vietnamese insurance market - September 07 5
Barclays 5
Barclays announce revised offer for ABN AMRO takeover - (M&A) August 07 5
BNP Paribas 5
BNP Paribas and RBS International Securities Services to merge (M&A) - July 07 5
BNP Paribas enters joint venture with Sahara Bank (Partnerships) - July 07 5
BNP Paribas launches Swedish operations (Organic Growth) - September 07 5
BNP Paribas Securities Services acquires hedge fund business (M&A) - September 07 6
Fortis 6
Fortis sells its share in CaiFor to "la Caixa" - July 07 6
Fortis Bank sells its stake in Banco Comercial Portugues - September 07 6
Fortis, Santander and RBS continue with their offer for ABN AMRO (M&A) - July-September 07 6
Friends Provident 7
Friends provident plc merge with Resolution plc to create Friends Financial plc - July 07 7
ING 7
ING completes sale of Regio Bank to SNS REAAL - July 07 7
ING agrees to buy back shares from Fortis - July 07 7
ING Group completes sale of ING Trust - July 07 7
ING to acquire Latin American pension businesses of Santander - July 07 7
ING to enter into partnership with Piraeus Bank in Greece - July 07 8
ING sells ING insurance Belgium to P&V Verzekeringen - September 07 8
Manulife 8
Manulife-Sinochem opens a new sales office in Nanchong, China - July 07 8
Manulife officially opens Vietnam Headquarters in Saigon - September 07 8
Old Mutual 8
Old Mutual Indian Joint Venture to further expand (Organic Growth) - September 07 8
Prudential plc 8
PruHealth partners with Sainsbury's (Partnership) - September 07 8
RBS 9
RBS, Santander and Fortis continue with their offer for ABN AMRO (M&A) - July-September 07 9
Santander 9
Santander, RBS, and Fortis continue with their offer for ABN AMRO (M&A) - July-September 07 9
Zurich 9
Zurich establish new distribution platform in China (Organic Growth) - September 07 9
APPENDIX 11
Methodology 12
Further reading 12
Ask the analyst 12
Datamonitor consulting 13
Disclaimer 13

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