Singapore financial regulator clears ACR sale

China's Shenzhen Qianhai Financial Holdings (QFH) and Shenzhen
Investment Holdings (SIHC) have gained Singaporean regulatory
approval to buy Asia Capital Re (ACR), just two months after the
parties announced the deal.
The news was released by ACR as the reinsurer secured
affirmations from AM Best and Standard & Poor's following
the ratings agencies reviews of the proposed transaction.
In October, ACR confirmedreports by this publication that it had sealed a $1bn all-cash
sale to Chinese prov