Swiss Re Weighs Investment in Chinese Insurer Anbang: Sources

Article 0 Comments Swiss Re AG has held discussions with Chinese authorities about an investment in embattled insurer Anbang Insurance Group Co., people with knowledge of the matter said. Swiss Re is among parties that have been approached as China seeks to find fresh funds to shore up the insurer, […]

Singapore’s Temasek Has Held Talks to Buy Stake in China’s Anbang: Sources

Article 0 Comments Singapore’s state investment firm, Temasek Holdings Pte, has held talks with Chinese authorities about acquiring a stake in Anbang Insurance Group Co. as well as some of its assets, according to people with knowledge of the matter. Temasek has been examining a potential deal for several months, […]

China’s Debt-Ridden Anbang Insurance Aims to Sell $200M of Japan Real Estate: Sources

Article 0 Comments Anbang Insurance Group Co. Ltd. aims to sell $200 million worth of Japanese real estate to bidders including Blackstone Group LP, about two years after buying them from the U.S. investment firm, two people with knowledge of the matter said. The debt-laden Chinese insurer, which was taken […]

China’s Anbang to Sell Overseas Properties Worth $10B in Ongoing Rescue: Sources

Article 0 Comments China’s Anbang Insurance Group Co. Ltd. is looking to offload overseas properties worth about $10 billion to shore up its balance sheet as part of a government-backed rescue, three people with knowledge of the matter said. The sales are likely to begin within a month, said the […]

China’s Anbang Weighs Sale of Hexie Health Insurance: Sources

Article 0 Comments Anbang Insurance Group Co. is weighing a sale of its Hexie Health Insurance Co. unit as the troubled Chinese firm reviews its assets for possible divestment, according to people familiar with the matter. The insurer is in discussions with financial advisers about a possible disposal of the […]

China’s Anbang Insurance Eyes Sale of Belgian Unit Fidea: Sources

Article 0 Comments Anbang Insurance Group Co. is exploring a sale of Belgian insurer Fidea, people with knowledge of the matter said, in what would be the troubled Chinese insurer’s first European divestment since it was seized by the government. Beijing-based Anbang has asked investment banks to pitch for a […]

Troubled Chinese Insurer Anbang Interviews Banks About Asset Divestments: Sources

Article 0 Comments Anbang Insurance Group Co., the troubled Chinese insurer seized by the government, is interviewing investment banks to advise on potential asset divestments, people with knowledge of the matter said. The once-acquisitive insurer plans to hire an adviser to manage the sale of parts of its portfolio, according […]

China’s Anbang Gets $9.7B Capital Injection to Bolster Solvency After Alleged Fraud

Article 0 Comments China is injecting 60.8 billion yuan ($9.7 billion) into Anbang Insurance Group Co. as it attempts to contain the fallout after the company’s former chairman was accused of masterminding a multi-billion dollar fraud. The move is aimed at ensuring Anbang’s solvency and protecting policyholders’ interests, the China […]

Ex-Chairman of China’s Anbang ‘Doesn’t Deserve Leniency,’ Say Prosecutors

Article 0 Comments Chinese prosecutors said Wu Xiaohui, the former chairman of Anbang Insurance Group Co., doesn’t deserve leniency as the one-day hearing of a fundraising fraud and embezzlement case against him wrapped up. Wu didn’t make confessions that could justify reduced penalties, the Shanghai No. 1 Intermediate People’s Court […]

Former Chairman of China’s Anbang Pleads for Leniency in $10B Fraud Trial

Article 0 Comments The former chairman of China’s Anbang Insurance Group Co Ltd requested leniency at the end of his high-profile trial in Shanghai for alleged economic crimes, including fraud and embezzlement involving more than $10 billion, according to court statements. Wu Xiaohui had contested the charges against him during […]