Swiss insurer Baloise is considering selling close to $1.1bn of life insurance policies in Belgium.
This is according to sources close to the matter speaking to Reuters, who also said Baloise is working with ING to look for interest in the Belgium portfolio.
Discussions are at an advanced stage and a deal could be signed soon, according to the sources.
It is not the only big deal being touted at the moment.
Nippon Life Insurance is looking to acquire Nichii Holdings in a deal valued at around Y210bn ($1.4bn), reported Nikkei.
Founded in December 1968, Nichii owns Nichigakkan and Nichii Carepalace.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Nichigakkan is said to be a leading nursing care provider in Japan, offering medical, nursing and childcare services.
Nichii Carepalace runs nursing homes and other facilities.
The Japanese life insurer aims to diversify its revenue sources through the acquisition, which is expected to strengthen its life care business and expand its customer base.
Established in 2008, BCC Vita promotes life and protection insurance services through various policies to safeguard an individual’s savings.
The deal also provides BNP Paribas Cardif with an option to acquire an additional 19% of BCC Vita.
Simultaneously, BCC Banca Iccrea, the parent company of BCC Iccrea Group, has entered a strategic bancassurance partnership with BNP Paribas Cardif.