LONDON: Admiral Group plc has agreed to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services, to J.C. Flowers & Co., a private investment firm specializing in the financial services sector. The transaction, valued at approximately Elephant’s net asset value, is subject to regulatory approval and is expected to close…
All posts tagged regulatory approval
Old Mutual gains regulatory approval to establish new bank
LONDON: Old Mutual has received the green light from the Prudential Authority to set up its own banking institution. This milestone comes after an intensive review process under Section 16 of the Banks Act 94 of 1990. The approval, governed by Section 17 of the same act, marks a significant advancement for Old Mutual, allowing…
Intact gets regulatory approval to acquire RSA’s business outside Norway and Sweden
COPENHAGEN: Intact Group has obtained approval from the Danish Competition and Consumer Authority to acquire sole control of RSA’s business outside Norway and Sweden, including the acquisition of sole control of RSA’s Danish business placed in Codan A/S. Today, the Danish Competition and Consumer Authority has announced that approval has been granted to Intact Financial…
Nufarm welcomes Canadian regulatory approvals for Omega-3 Canola
SYDNEY: Nufarm Limited announced confirmation from Canadian regulatory authorities that approvals have been received for the company’s proprietary Nuseed Omega-3 Canola relating to cultivation, use in aquafeed and livestock feed, and for human consumption. In releasing its assessment, Health Canada determined that the highly refined oil derived from Nuseed Omega-3 Canola is as safe for…