China’s Fosun Weighs Acquisition of Belgian Insurer Ageas

Article 0 Comments Fosun International Ltd., the Chinese group backed by billionaire Guo Guangchang, is considering an offer for all or parts of Belgian insurer Ageas in what could be its boldest move to expand its international footprint, people familiar with the matter said. Shanghai-based Fosun is talking to advisers […]

Anbang’s Plans for Waldorf Astoria Call for Fewer Luxury Condos

Article 0 Comments It’s official: Anbang Insurance Group Co. has filed a plan for the luxury condos it’s developing at Manhattan’s Waldorf Astoria, and it calls for fewer apartments than the company initially aimed for. The Chinese insurer’s project to convert many of the landmark hotel’s guest rooms now calls […]

China Seizes Control of Anbang; Acquisitive Chairman Faces Fraud Prosecution

Article 0 Comments The Chinese government on Friday seized control of Anbang Insurance Group Co. Ltd and said its chairman had been prosecuted, dramatically illustrating Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk. Anbang had violated laws and regulations which “may seriously endanger the solvency […]