Anbang Insurance Assets for Sale Include Manhattan Building, Health Insurer, Hotels

Article 0 Comments Anbang Insurance Group Co., which symbolized the era of mega-acquisitive Chinese companies that later had to reverse their buying binges, is continuing to whittle down its empire. The Beijing-based conglomerate is exploring the sale of the Manhattan office building that houses its U.S. headquarters, according to people […]

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 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 […]

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 […]

Anbang Chairman Wu’s Downfall Sealed with 18 Year Jail Term

Article 0 Comments Wu Xiaohui, former chairman of Anbang Insurance Group Co., was sentenced to 18 years in prison after being convicted of fund-raising fraud and embezzlement, according to the official Xinhua News Agency. The verdict from a Shanghai court also said Wu will be deprived of his political rights […]

China’s Anbang Insurance Eyes Divestment Strategy

Article 0 Comments Anbang Insurance Group Co., the once-acquisitive Chinese insurer that’s operating under government control, said it is in the process of reviewing all of its overseas assets amid reports of imminent divestments. Responding to questions from Bloomberg News, Anbang said it’s meeting with investment banks as part of […]