Reinsurance News
Anbang
Athora completes VIVAT acquisition & sale of non-life segment to NN Group
3rd April 2020
European life insurance and reinsurance group, Athora Holding, Ltd., has announced the completion of its previously announced acquisition of VIVAT N.V. from Anbang Group Holdings Co Limited, while NN Group has taken control of VIVAT Schadeverzekeringen N.V., VIVAT's non-life operation. The transaction was announced back in June of 2019 and ... Read the full article
China’s Anbang reopens sales talks for Chengdu bank
3rd January 2020
China’s Anbang Insurance Group is reopening talks to sell its 35% stake in Chengdu Rural Commercial Bank, according to reports from Reuters. This marks the second time the insurer has attempted to offload its stake in Chengdu, having previously tried to sell the stake for 16.8 billion yuan (US $2.41 billion) ... Read the full article
Anbang targets sale of Japanese property portfolio: Reports
14th August 2019
China's Anbang Insurance Group is reportedly looking to sell its $2.4 billion (£1.9bn) property portfolio in Japan, which it acquired from Blackstone in 2017 for about the same price, according to Reuters. Reuters has today reported that Anbang is planning to sell the entire portfolio, which mainly consists of residential buildings ... Read the full article
China confirms new insurer set up to assume Anbang assets
11th July 2019
The China Banking and Insurance Regulatory Commission (CBIRC) has verified reports which suggested a new insurer had been set up to assume part control of Anbang. Anbang was taken over by the Chinese government in February 2018 after regulators found that it had been operating “illegal business operations that ... Read the full article
China sets up new insurer to assume Anbang assets
1st July 2019
China has set up a new Beijing based insurer, called Dajia Insurance Group, to take over the main operations of Anbang Insurance Group Co., according to reports from Bloomberg. Anbang was taken over by the Chinese government in February 2018 after regulators found that it had been operating “illegal business ... Read the full article
Baloise acquires Belgian insurer Fidea from Anbang for €480m
15th April 2019
Baloise Group, a Swiss insurer, has moved to acquire Belgian insurance firm Fidea NV from China's Anbang Insurance Group in a deal worth €480 million. The purchase will see Baloise edge closer to becoming a top four non-life insurer in the Belgian market, increasing its share by 1.7% to 8.5%. In the ... Read the full article
Swiss Re said to have held discussions on Anbang investment
22nd October 2018
Global reinsurance firm Swiss Re has been looking at opportunities for investment in China, after a stake in Anbang Insurance is said to have been discussed with the Chinese authorities. Anbang Insurance Group is described as one of the most politically connected companies in China, having been founded by state-owned enterprises ... Read the full article
Anbang control seized by Chinese government
23rd February 2018
Control of Anbang Insurance has been taken over by the Chinese government, according to the insurance regulator, who cited "illegal business operations." The Chinese insurance regulator has taken a dim view of Anbang's growth and expansion, feeling that some of its operations are not suitable and has now also charged its ... Read the full article
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