2 February 2017Insurance

ACR completes acquisition of Malaysia and ReTakaful subsidiaries

Risk Solutions group ACR Capital Holdings has completed the acquisition of its Asia Capital Re Malaysia and ReTakaful subsidiaries.

ACR previously held 30 and 20 percent of ACR Malaysia and ACR ReTakaful, respectively.

The move comes months after the company was acquired by two Chinese investment funds.

Hans-Peter Gerhardt, ACR Group chief executive, said: "At this juncture of ACR’s evolution and in response to the anticipated long-term development of our industry, we see the need to be able to support our clients in Asia in the most seamless way possible.

"The consolidation of all these ACR-branded entities fully under the ACR group is part of our long-term strategy to enhance the client benefits and operational efficiency of all ACR entities so they may be able to grow and move as one unit. The ultimate goal is to build a strong and coherent ACR group of companies for all our clients in Asia and the Middle East."

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
2 May 2017   ACR Capital Holdings has received regulatory approval by the National Development and Reform Commission of the People’s Republic of China for its sale to Shenzhen Qianhai Financial Holdings (QFH) and Shenzhen Investment Holdings (SIHC).
Insurance
12 June 2017   ACR Capital Holdings has appointed Bobby Heerasing as deputy group chief executive and deputy chief executive of its fully owned subsidiary Asia Capital Re.
Insurance
1 November 2017   The acting chief executive of Asia Capital Re (ACR) has confirmed that the company has made a joint decision with Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings to terminate its $1 billion sale—but he stressed that it is business as normal for the reinsurer.