Oversea-Chinese Banking Corporation (OCBC.SI), Singapore’s second-largest bank by assets, has initiated a full buyout of Great Eastern Holdings (GELA.SI), a leading regional insurer. The move includes plans to delist Great Eastern from the Singapore Exchange (SGX), signaling a significant restructuring of financial operations within the OCBC Group and a broader shift in the Southeast Asian insurance landscape.

Recent developments have placed the Indian division of the British insurer Aviva $AV.L under the spotlight. Indian authorities have mandated the local branch to pay USD 7.5 million in tax deficiencies and fines following an investigation. The company was found to have issued fraudulent invoices to pay unlawful commissions while claiming inaccurate tax deductions.