Washington's deficit spending is raising concerns among investors after Moody's cut its
US sovereign credit rating, citing a fast-growing debt mountain of some $36 trillion.
The insurer, backed by Li Ka-shing's son Richard, said it booked its first-ever net profit in the first quarter, with plans to strengthen its capital position and expand market reach after the planned share sale.
Allianz withdraws offer to acquire Income Insurance; CapitaLand to buy Wingate in Australia; Cathay Life Insurance buys 50% of Taiwan windfarm from Denmark's Orsted; and more.
In its second major acquisition announcement this month, Japan's Nippon Life unveiled plans Wednesday to purchase global insurer Resolution Life, following its completed Corebridge deal.
The $2.35 billion investment deal is part of an equity recapitalisation via a vehicle led by StonePeak, along with direct investments from Investment Management Corporation of Ontario and APG Asset Management.
Seven countries – including Australia – may now back the Asian Development Bank's IF-CAP programme, amid optimism around the climate investment it will mean for Asia.