Latest news with #Asia-focused
Business Upturn
2 hours ago
- Business
- Business Upturn
Angel One and LivWell to form JV for digital-first life insurance company in India
Angel One, one of India's top FinTech platforms, has announced its plan to form a joint venture (JV) with LivWell to launch a next-generation, digital-first life insurance company. Backed by a capital infusion of ₹400 crore, the new venture will be co-promoted by Angel One Ltd (26%) and LivWell Holding Company PTE Ltd (74%), subject to regulatory approvals. This strategic alliance aims to redefine how Indians access life insurance—leveraging technology, trust, and transparency. India remains significantly underinsured, with protection gaps of over 83%, particularly among younger earners aged 26–35. The JV seeks to tackle this challenge by offering affordable, personalized, and protection-led insurance products built on seamless digital infrastructure. The proposed company will operate on a tech-first architecture, using AI-driven automation and data personalization to simplify life insurance. The goal: to make insurance more relevant, affordable, and aligned with modern lifestyles. The leadership team includes industry veterans such as Wilf Blackburn, ex-Regional CEO of Prudential Asia, who is expected to chair the venture, and Nikhil Verma, former Deputy CEO of Aviva Vietnam, as the CEO. LivWell is supported by Olympus Capital, a prominent Asia-focused private equity firm with $2.6 billion invested across companies like HDFC Bank, CreditAccess Grameen, and Utkarsh SFB. With India aiming for 'Insurance for All by 2047', this digital-first insurer is poised to tap into a massive, underserved market. By combining Angel One's digital expertise with LivWell's insurance pedigree, the JV is set to reshape life insurance access for millions of Indians. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Times
5 days ago
- Business
- Business Times
Inside Asia's impact investment boom
BACK in 2019 while working to launch the Global Impact Investing Network (GIIN), I attended an impact investing conference in India. What struck me most was the mix of energy, enthusiasm and innovation in the crowd. It was apparent even then that impact investing had undeniable potential to take root and take off in Asia. Impact investing aims to generate positive, measurable social or environmental impact alongside a financial return. In short, it is about harnessing capital to solve real-world problems for people and the planet. This approach creates jobs, energises local economies and makes communities more resilient – the foundations of a healthy society, regardless of the continent you are on. Focus areas range from increasing access to education and mitigating carbon emissions to supporting ageing populations, all representing opportunities where impact capital can help drive solutions. This is true globally and increasingly so in East, South and South-east Asia. The continent has always been significant in impact investing's history, but Asia is now elevating its leadership role, with Singapore as a major hub. I have always appreciated Asia's dynamism – it is both a source of impact capital and a global destination for such capital. As Asia continues on its path of growth, impact investing will remain essential for the region's sustainable development. Data confirms that impact investing is booming in Asia. Our 2024 report on the state of impact investing in Asia, which covers the activity of 68 Asia-focused investors who manage more than S$48.6 billion in assets under management (AUM), found that the AUM dedicated to impact is growing significantly. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up There is accelerating interest in East Asia specifically, with 60 per cent of such investors planning to increase their allocations in the coming year. Energy, healthcare, education, and information and communication technologies were all noted as priority sectors. Asian organisations are now leaders within the global impact investing industry. Singapore, a convenor and thought leader in Asia's sustainable finance space, has seen a tremendous amount of leadership from family offices like the Tsao Family Office and intermediaries like Impact Investment Exchange, among others. Our research reveals other indicators of increasing momentum and satisfaction: 89 per cent of Asia-focused impact investors said their financial returns were outperforming or in line with expectations, and 88 per cent reported the same for their impact performance. This is part of a broader trend, and should fuel continued global interest in impact investing in Asia. Two key factors are driving this growth. First is a positive shift in government support and policy frameworks for the industry. For instance, in 2024, Japan's Financial Services Agency launched formal principles for impact investing, which reflected many definitions and guidance originating from the GIIN. Japan's Government Pension Investment Fund – the world's largest – recently pivoted to allocate more capital to impact investments, in an effort to create long-term value for pensioners and meet the country's social and environmental needs. The closer alignment of corporate interests with impact-focused goals in Japan may be associated with the 150 per cent rise in the country's impact investing market from 2023 to 2024. Family offices are also a major force. According to Empaxis, Asia is home to 9 per cent of the world's approximately 20,000 family offices, with more than half of Asia's family offices located in Singapore. Many of these families, who lead large family businesses in Asia, are reconsidering how to approach long-term value creation for their legacies and future generations, with impact investing as a tool. The GIIN has been active for more than 15 years, and I am excited to see that the leadership, dynamism and rigour I saw on my first trip to Asia have only grown. Investors in Asia have advanced on their impact journeys remarkably quickly – moving directly from intention to implementation. I like to think this leapfrogging is owed in some part to the power of global networks like the GIIN and others, that provide opportunities to learn best practices from fellow practitioners. Impact investing in Asia holds tremendous potential and power. The latest estimates indicate that more than S$2 trillion in impact AUM is circulating in the world now. While this market size is itself a milestone for the global impact investing movement, it is also a call to action for investors to mobilise in service of improving livelihoods, communities and the natural world, in Asia and beyond. The writer is chief executive officer and co-founder of the Global Impact Investing Network
Hindustan Times
5 days ago
- Business
- Hindustan Times
Ashwin Sheth Group acquires development rights from MHADA for ₹3,800 crore residential project in Mumbai's Goregaon
Mumbai-based Ashwin Sheth Group on July 18 announced a residential project in Siddharth Nagar area of Goregaon West in Mumbai after acquiring development rights from the Maharashtra Housing and Area Development Authority (MHADA). Mumbai-based Ashwin Sheth Group on July 18 announced a residential project in Siddharth Nagar area of Goregaon West in Mumbai after acquiring development rights from the Maharashtra Housing and Area Development Authority. (Representational photo)(Pixabay) The company said that the development will have 12 lakh sq ft of RERA carpet area with a gross development value (GDV) ₹3,800 crore. According to the company, the project spread across 4.05 acres will have premium offerings across five towers of 44 floors along with a signature 60 floors tower. The project will have 2 BHK, 3 BHK and 4 BHK apartments ranging from 800 sq ft to 1,600 sq ft. Also Read: DLF eyes more projects in Mumbai's real estate market, but focus remains on Andheri for now Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, said, "This strategic acquisition from MHADA represents a milestone in our expansion strategy. Goregaon West has emerged as one of Mumbai's most promising residential destinations, and securing this prime 4.05-acre parcel positions us to deliver a world-class development that will set new standards for premium living in the western suburbs." According to the company, Siddharth Nagar location in Goregaon West offers excellent connectivity to major business districts, entertainment hubs, and transportation networks. With the area witnessing rapid infrastructure development and emerging as a preferred residential destination for both end-users and investors, the project is strategically positioned to cater to the growing demand for premium housing in the western suburbs, the company said. Also Read: Ashwin Sheth Group acquires 50% stake in South Mumbai luxury project with ₹2,300 crore GDV South Mumbai project Ashwin Sheth Group had on June 11 announced the acquisition of a 50% stake in One Marina, a luxury residential project located in South Mumbai's Marine Lines with GDV of ₹2,300 crore. The acquisition was backed by substantial funding from PAG Singapore, an Asia-focused investment firm that has committed $65 million (over ₹540 crore) to support the construction and development of the ₹2,300 crore GDV project. "Part of the funds raised from PAG were used to facilitate the exit of J.C. Flower ARC, whose loan from Yes Bank was settled by Ashwin Sheth Group to clear the way for the new partnership," the statement had said. Situated close to Marine Drive and the historic Princess Street Flyover, one of India's earliest flyovers, One Marina enjoys a prime location in the heart of the city.
The Sun
07-07-2025
- Business
- The Sun
Kenanga IB debuts Hang Seng China Enterprises Index structured warrants
KUALA LUMPUR: Global investors are increasingly turning to the China and Hong Kong markets to offset the impact of US tariffs, as these Asia-focused markets present more attractive investment opportunities. Kenanga Investment Bank Bhd head of equity markets and group head of derivatives Philip Lim said most investors are eager to access the Chinese market, and the major China Enterprises Index (CEI), which is closely linked to the Hang Seng Index (HSI) in Hong Kong, plays a significant role in this strategy. He said the technology sector, in particular, highlights a divergence between markets, with much of the current tech activity centred in the United States. 'However, investors now seek to participate in the dynamic ecosystem of Hong Kong's tech sector and the broader East Asian market, recognising its growing relevance and potential,' he told reporters after the launch of its first-ever Hang Seng China Enterprises Index (HSCEI) structured warrants today. Lim said that with the recent expansion into Hong Kong, there are also plans to explore opportunities in other industries and sectors, guided by customer demand and data-driven insights from machine learning systems. 'Kenanga remains committed to introducing relevant products to the market, ensuring that offerings align with industry trends and client interests,' he said. Kenanga launched HSCEI structured warrants HSCEI-CAA and HSCEI-HBA, as well as Hang Seng TECH Index structured warrants HSTECH-C30 and HSTECH-H27 under its flagship brand, NagaWarrants. The launch marks a strategic expansion of Kenanga's East Asia footprint, following the introduction of HSI structured warrants HSI-CIW and HSI-HMO in 2021. With HSCEI and HSTECH now listed on Bursa Malaysia, domestic investors will gain diversified access to two of Hong Kong's most influential indices, offering new opportunities to tap into China's financial and technology sectors. The HSCEI tracks heavyweight mainland enterprises listed in Hong Kong, including financial and infrastructure giants such as Industrial and Commercial Bank of China, China Construction Bank, PetroChina and Ping An Insurance. It serves as a key benchmark for tracking the performance of China's largest state-owned enterprises. The HSTECH captures the growth of China's leading tech innovators such as Tencent, Meituan, Xiaomi and With its focus on fast-evolving technology and innovation, HSTECH is ideal for traders with higher risk appetites looking for volatility and growth potential. Kenanga's presence in the structured warrants market is underscored by its 64% market share in HSI warrants. In 2024, the structured warrants segment on Bursa Malaysia recorded a turnover of RM30.3 billion, accounting for about 3.6% of the exchange's total market turnover of RM848.7 billion. The launch of HSCEI and HSTECH structured warrants is expected to broaden market participation, diversify product offerings, and boost overall liquidity, particularly among retail traders already familiar with HSI warrants. Moving on, Lim stated that, given the current low participation rate among retail investors, both local and foreign market volumes are negatively impacted. This situation highlights a key differentiator, he said. Unlike the local market, structured warrants are not limited to a single market. 'If the Hong Kong market, for example, becomes more active, products in demand can be issued and introduced to the Malaysian market. More importantly, the expertise developed by the Malaysian market, particularly through institutions like Kenanga, is essential for the country to enhance its capabilities and upskill within the service industry.' Looking ahead, Lim said Kenanga remains committed to supporting investors through innovation, education and access to global markets.
Economic Times
07-07-2025
- Business
- Economic Times
Nuvama shares rally 4% as $1.6 billion buyout buzz offsets Jane Street overhang
Shares of Nuvama Wealth rose 4.3% on Monday, recovering part of Friday's losses after a Sebi order, as reports of a potential $1.6 billion buyout lifted investor sentiment. Global private equity giants CVC, Permira, EQT, and HSBC are in advanced talks to acquire PAG's controlling stake, triggering fresh interest in the wealth manager amid a highly competitive bidding race. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Jane Street overhang lingers Financial Performance Tired of too many ads? Remove Ads Corporate History India's wealth market draws global eyes Shares of Nuvama Wealth Management climbed as much as 4.3% on Monday to Rs 7,574.60 on BSE, recouping some of Friday's losses after a Sebi order rattled investors. Fresh reports of a potential billion-dollar buyout by global private equity majors reignited interest in the equity giants CVC Capital Partners , Permira, and EQT are in advanced talks with Asia-focused investor PAG to acquire its controlling stake in Nuvama (formerly Edelweiss Wealth Management) in a deal potentially valued at $1.6 billion, according to a report in The Economic Times, citing people familiar with the matter. HSBC, Europe's largest bank by market value, is also in contention, making it a fiercely competitive bidding four shortlisted bidders submitted non-binding offers late last month and are currently conducting due diligence. Binding offers are expected by the end of July, although analysts believe this timeline may be difficult to owns a 54.78% stake in Nuvama, valued at Rs 14,383 crore as of Friday's close, out of the company's total market capitalisation of Rs 26,150.87 crore. Any deal resulting in a change of control will trigger an open offer for 26% of the shares held by minority Pincus is also said to have made a verbal indicative offer and is being considered as a fallback option. Meanwhile, domestic fund ChrysCapital is reportedly exploring a possible smaller deal or a consortium-based investment. 'Consortia are likely to get formed as the cheque size is expected to be large,' one of the people cited told The Economic stock fell 11% on Friday — its sharpest drop in three months — after India's securities regulator barred U.S.-based Jane Street from the domestic market over alleged index manipulation to extract large profits through derivatives trading. While SEBI did not name Nuvama in its 105-page interim order, the firm came under scrutiny due to its role as Jane Street's on-ground trading partner in India.'The Jane Street episode will be a one-time hit but will not have a structural impact,' an executive cited in The Economic Times report said. 'However, valuation may be impacted if the matter drags on.'Despite being cleared in an earlier NSE investigation that was closed in May, Nuvama's prior association with Jane Street triggered investor caution. The company had responded to NSE's queries as part of that Street is believed to be a major client of Nuvama's institutional services business, with some analysts estimating it accounts for up to 40% of revenue in that segment, although this figure could not be independently to Jefferies, the impact of SEBI's action is expected to be uneven across institutions. While BSE may see limited disruption, Nuvama could face a more significant reported a 58% year-on-year rise in profit after tax in FY25 and delivered a strong return on equity (ROE) of 31%. In the March quarter, asset services—including custody and settlement—accounted for 47% of revenue, while wealth management contributed 35%, with the remainder coming from equities and investment asset services division handled $14.7 billion in institutional assets in FY25, with revenue jumping 85% from FY24, according to company was listed in September 2023, following a demerger from Edelweiss Financial Services. Since its debut, the stock has rallied over 114%, including a 55% gain over the past had acquired control in March 2021 through a $325 million investment, and kicked off the sale process earlier this year, appointing JP Morgan and Morgan Stanley as advisers for the are eyeing Nuvama for its rapidly growing wealth management franchise in a fragmented Indian market, where only 15% of wealth is professionally managed, compared to 75% in developed markets. India's wealth management industry currently manages an estimated $130–160 billion of the country's total $1–1.2 trillion in to ICRA, Nuvama's key strengths include its diversified business model and strong financial performance, although the firm remains exposed to market volatility and reputational risks.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
