This week in insurance: MS Amlin UAE tie-up, Zurich eyes Beazley buyout, Bharti AXA bancassurance push

Aon Plc also announced the appointment of Karl Hamann as CEO of the Philippines.

The insurance and financial services sector from 2 to 6 February saw a mix of new partnerships, strategic acquisitions, executive appointments, and moves toward digital innovation across markets in the past week.

MS Amlin has launched a new reinsurance partnership with its parent company, Mitsui Sumitomo Insurance Co. (MSI), to serve clients in the United Arab Emirates.

The arrangement is run through MS Amlin’s Dubai branch and provides contract frustration protection for MSI’s banking clients in the UAE.

The Philippine Deposit Insurance Corporation (PDIC) has signed a new cooperation agreement with the Deposit Insurance Corporation of Mongolia (DICoM), expanding its network of international partnerships in the deposit insurance sector.

The Memorandum of Understanding (MOU), the first between the two agencies, was signed in November 2025 during the International Association of Deposit Insurers (IADI) Annual Conference in Lisbon.

Zurich Insurance Group has agreed in principle to the financial terms of a possible cash offer to buy specialist insurer Beazley plc, in a deal that could value Beazley at around $11.0b (£8.0b).

Under the proposal, Beazley shareholders could receive up to 1,335 pence per share.

This includes 1,310 pence per share in cash, as well as permitted dividends of up to 25 pence per share for the financial year ended 31 December, 2025, if these are paid before the deal is completed.

Bharti AXA Life Insurance, a subsidiary of Bharti Life Ventures Private Limited, and Equitas Small Finance Bank has entered a bancassurance partnership to improve life insurance penetration across India’s semi-urban and rural markets.

Aon Plc announced the appointment of Karl Hamann as CEO of the Philippines, effective 1 April. 

He will relocate to Manila in the coming months and continue to report to Andrew Minnitt, head of Southeast Asia.

Singapore has taken a key step towards wider use of digital trade documents in maritime insurance, after global maritime insurers approved electronic Bills of Lading on several TradeTrust-enabled platforms.

The Infocomm Media Development Authority said four digital trade platforms — AEOTrade, BlockPeer, Credore, and SGTraDex — have been approved by the International Group of Protection and Indemnity Clubs.