A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s second-largest deal this year. Dhanin’s Charoen Pokphand …
HSBC said it was in talks to sell its $9.3 billion stake in China’s Ping An Insurance, stepping up a program by Europe’s biggest bank to shed non-core parts of its business to boost profitability. HSBC spent $1.7 billion to …
Aviva, the UK’s second-biggest insurer, is closing in on the sale of its underperforming U.S. business, a key part its drive to strengthen its finances in an uncertain economic climate and revive its share price. The disposal, expected “reasonably soon,” …
Pan Asian insurer AIA Group Ltd has agreed to buy ING’s Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian assets. The sale of …
Luxembourg-based Flagstone Reinsurance Holdings, S.A. announced that it has completed the planned sale of its Lloyd’s segment to a wholly-owned subsidiary of ANV Holdings BV for approximately $49.7 million in cash. “As a result of the transaction, the Company is …
Dutch banking and insurance group ING now expects a quick sale of parts of its $7 billion Asian insurance business as it seeks to repay state aid and meet European requirements for its 2008 state bail-out, its chief executive said …
The Netherlands-based group ING, which has been forced to sell assets in return for receiving state aid during the financial crisis, said it is considering the sale of its UK and Canadian online banking units, estimated to be worth about …
Dutch bank and insurer ING, forced to sell assets in return for receiving state aid during the financial crisis, said on Tuesday it was in talks with the Dutch government and the European Commission over an amended restructuring plan. The …
A wide range of suitors, from the son of Asia’s richest man and a former rugby player in New Zealand to more established players including AIA Group and Manulife Financial Corp, are expected to submit binding bids on Monday for …
Direct Line, the UK’s largest motor [auto] insurer run by government-owned Royal Bank of Scotland, is a takeover target for private equity groups looking to pre-empt what would be one of the biggest initial public offerings in London this year. …
