October 18, 2024
Japanese insurer Tokio Marine has paused the sale of its $1 billion Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring products distribution agreement, four sources with knowledge of the matter said. …
April 15, 2024
BNP Paribas, the euro zone’s biggest bank, has agreed to buy a 9% stake in Ageas from China’s Fosun Group for about 730 million euros ($780 million), making it the biggest shareholder in the Belgian insurer. The deal ends months …
January 9, 2023
Ant Group’s founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two …
November 22, 2022
China’s Fosun International Ltd. has appointed Deutsche Bank to advise on a potential sale of its stake in Hong Kong-based reinsurance company Peak Re, four people with knowledge of the matter told Reuters. The sale comes as the tourism-to-financials conglomerate …
October 26, 2022
Global credit rating agency Moody’s downgraded Fosun International Ltd. by one notch on Tuesday and revised its outlook to “negative” from “ratings under review” amid concerns over the firm’s accelerated asset sales. The downgrade to B2 from B1 followed the …
December 21, 2021
LONDON/HONG KONG – Global merger and acquisition (M&A) activity shattered all-time records in 2021, comfortably erasing the high-water mark that was set nearly 15 years ago, as an abundance of capital and sky-high valuations fueled frenetic levels of dealmaking. The …
November 24, 2021
HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …
November 12, 2021
HONG KONG – Financial conglomerate Ping An Insurance Group of China is seeking to offload its 44% stake in auto services portal Autohome, three people familiar with the situation told Reuters. Ping An, which is currently the biggest shareholder of …
November 10, 2021
HONG KONG – Asian insurer FWD Group, controlled by Hong Kong billionaire Richard Li, is contemplating shifting its $2-$3 billion share sale from the United States to Hong Kong, said two sources with direct knowledge of the matter. The Hong …
August 30, 2021
SHANGHAI — China’s banking and insurance sector regulator is probing Ping An Insurance Group Co. of China Ltd.’s investments in the property market, two people with knowledge of the matter said, after the firm took a big profit hit from …