ACR Capital completes acquisitions of ACR Malaysia, ACR ReTakaful

SINGAPORE: ACR Capital Holdings Pte Ltd, via its wholly- owned unit , Asia Capital Reinsurance Group ( As ia Capital Re), has completed the acquisitions of Asia Capital Reinsurance Malaysia Sdn Bhd ( ACR Malaysia) and ACR ReTakaful Holdings Ltd.

ACR Capital previously held 30 per cent of ACR Malaysia and 20 per cent of ACR ReTakaful.

In a statement yesterday, ACR Group chief executive, Hans- Peter Gerhardt, said in response to the anticipated long-term development of the industry, ACR saw the need to support its clients in Asia in the most seamless way possible.

“The consolidation of all our branded entities fully under the ACR Group is part of our long- term strategy to enhance client benefits and operational efficiency of all ACR entities so they can 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,” he said.

The acquisitions will see ACR Malaysia and ACR ReTaka ful , i nc lud i n g operating ent it ies, ACR ReTakaful Bhd in Kuala Lumpur and ACR ReTakaful MEA B. S.C. (c) in Bahrain, operate as wholly- owned units of Asia Capital Re.

ACR is ranked among AM Bes t ’ s top 5 0 globa l rei nsurance groups.

Its who l l y - ow n e d reinsurance operator, Asia Capital Re, parent company of ACR Malaysia and ACR ReTakaful, holds financial strength ratings of ‘ A-’ by both Standard & Poor’s and AM Best.

ACR was established in November 2006 to serve the risk solutions needs in the pan-Asian region.

ACR’s group of companies includes Asia Risk-Tech Enterprises Management Consulting ( Shanghai) Co Ltd.

Asia Capital Re is Asia’s first independent reinsurance company with a focus on providing risk solutions to the pan-Asian region with particular specialties for large and complex risks across non- l i fe business lines.

Altogether, Asia Capital Re’s regional presence across Asia includes Hong Kong, South Korea, Taiwan, Japan, Dubai, Bahrain, Vietnam, Malaysia and India.

Asia Ri s k- Te ch in Shanghai serves the Greater China region with risk consulting, risk engineering a nd o t her services. — Bernama