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TORONTO/LONDON, Dec 17 (Reuters) - Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021.
The RSA deal is one of the largest examples of insurers pulling in buyers this year, as a sharp rise in premiums has outweighed hefty coronavirus pandemic claims.
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.
That places Canadian investors as the third biggest investors in insurance deals, behind the UK and the United States, according to the data. Last year, Canadian investors were the fifth largest in the space.
Canada Reports 20-Year High in Overseas Investment in Insurance M&A
Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021.
The RSA deal is one of the largest examples of insurers pulling in buyers this year, as a sharp rise in premiums has outweighed hefty coronavirus pandemic claims.
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.
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TORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) Brookfield Global Infrastructure Securities Income Fund (the Fund ) (TSX:BGI) today announced a distribution of C$0.15 per unit for the quarter ending December 31, 2020. The distribution will be paid on or before January 15, 2021 to holders of record on December 31, 2020.
Eligible holders of the Units ( Unitholders ) may participate in the Fund s Dividend Reinvestment Plan ( DRIP ), where they may elect to automatically reinvest their dividends in additional Units. Details of the DRIP are available on the Fund s website at https://publicsecurities.brookfield.com/. Unitholders who wish to participate in the DRIP should contact their investment advisor for further information and to enroll.
National Investment and Infra Fund emerges top bidder for Mahindra Susten s solar assets
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If the deal materialises, it would be the first major acquisition by NIIF in the renewable energy space. NIIF is already an investor in CDC-owned Ayana Renewable Energy and Everstone Capital-owned Eversource.
Reuters
Mumbai: The National Investment and Infrastructure Fund (NIIF) is the frontrunner to acquire about 617 megawatts (MW) worth assets of Mahindra Susten, the solar energy EPC platform owned by the Mahindra group, outbidding global private equity funds Brookfield Asset Management Inc and KKR, two people aware of the development said.
The major operational assets that are to be sold include a 337.5 MW solar park at Rewa, Madhya Pradesh and an 84.5 MW plant at Charanka, Gujarat.