AI Top 50 2018 – 970×90 EN


China News App Toutiao Said Seeking To Buy Insurance Broker

Chinese news app Toutiao appears to be the latest Chinese media platform looking to get into financial technology. According to local news reports, the five-year-old company with a valuation estimated at US$20 billion is looking to acquire an insurance broker in China to break into the insurance business, but without having go through the time consuming process of obtaining an insurance license. 

JD Capital Acquires Ageas’ Life Insurance Business In Hong Kong For $1.4B

JD Capital has agreed to acquire Belgian insurer Ageas’ life insurance business in Hong Kong for HK$10.7 billion (US$1.4 billion) in cash, according to a company announcement. Brussels, Belgium-headquartered Ageas acquired Pacific Century Insurance in 2007, and re-branded the company to Ageas. Ageas’ life insurance business in Hong Kong currently has over 2,500 financial advisors with gross inflows of US$540 million in 2014. The company’s book value amounts to US$1.09 billion at the end of June 2015, says the statement. …

Zhong An Insurance To Raise $931M From Private Equity Investors

Shanghai-based Internet insurance company Zhong An Insurance is to raise RMB5.775 billion (US$931 million) in its first round of financing and the deal has won regulatory approval, according to unconfirmed Chinese media reports. The fundraising amount is lower than the RMB9 billion (US$1.45 billion) reported previously. Five investors, including Morgan Stanley, China International Capital Corporation Limited (CICC), CDH Investments, Keywise Capital Management and SAIF Partners, will acquire 206 million new shares issued by Zhong An Insurance for RMB24 per share.

Fosun To Acquire 80% Of Ironshore For Up To $2B

Hong Kong-listed Chinese conglomerate Fosun International Limited has agreed to acquire 80% of global insurer Ironshore Inc. it does not already own for as much as US$2 billion, according to a securities filing. The deal’s total consideration is approximately US$1.8 billion, which will increase 8% per annum from December 31, 2014 to the closing date, potentially pushing the total deal value to over US$2 billion. Both the buyer and the seller can cancel the deal if it’s not closed on …

Anbang To Acquire Korean Insurer Tong Yang Life For $1B

Beijing-based Chinese insurance firm Anbang Insurance Group Co., Ltd. has shown interest in acquiring a controlling stake in South Korea’s Tong Yang Life Insurance Co., Ltd. for about 1.1 trillion Korean Won (US$1.01 billion), according to media reports. Anbang has reportedly signed a memorandum of understanding to acquire the 57.5% stake in the Korean insurer from South Korean private equity firm Vogo Investment Group. Anbang and Vogo could not be reached to confirm the news.

Fosun To Acquire Meadowbrook Insurance For $433M

Shanghai-based Chinese conglomerate Fosun International Limited has agreed to acquire New York Stock Exchange-listed Meadowbrook Insurance Group, Inc. for a total of US$433 million, according to a joint announcement. Fosun is to pay for US$8.65 per share in cash, a 24% premium over the U.S. insurance firm’s closing price on December 29, 2014 and a premium of 39% to its three-month average closing price for the period ending December 29, 2014.

Anbang Insurance To Acquire Delta Lloyd Bank Belgium For$273M

Dutch insurer Delta Lloyd NV says that it has reached an agreement to sell its banking unit Delta Lloyd Bank Belgium to China’s Anbang Insurance Group Co. Ltd. for €219 million (US$273 million), according to a company announcement. The deal is the third major overseas acquisitions revealed by Anbang in a short three-month period. In October, the Beijing-based Anbang said it would acquire Belgian insurer Fidea from U.S. private equity firm J.C. Flowers & Co. for an undisclosed amount, and …

Huaxia Insurance Injects $160M In China Aoyuan Property Subsidiary

Hong Kong-listed Chinese property developer China Aoyuan Property Group Limited says that Huaxia Life Insurance Co., Ltd. has injected RMB1 billion (US$160 million) in one of its its subsidiaries for a significant minority stake, according to a company announcement. The wholly owned subsidiary, Guangzhou Aoyu Real Estate Development Company Limited, will be 54% and 46% owned by parent Guangzhou-based Aoyuan and Huaxia upon completion of the investment.

Anbang Insurance To Acquire Belgian Insurer Fidea From J.C. Flowers

Beijing-based Chinese insurance firm Anbang Insurance Group Co., Ltd. has agreed to acquire Belgian insurer Fidea from U.S. private equity firm J.C. Flowers & Co. for an undisclosed amount, according to a company announcement. The news came one week after Anbang announced last week that it is buying the Waldorf Astoria New York hotel from U.S. private equity giant The Blackstone Group for US$1.95 billion.

Hank Greenberg: U.S. And China Must Jointly Manage Asia Pacific

In this special edition of China Money Network, listen to former chairman and CEO of AIG, Hank Greenberg, discuss how the U.S. and China should jointly manage the Asia Pacific region, the transition of China’s economic model, and China Development Bank’s failed investment in San Fransisco. Hank Greenberg answered questions from former Morgan Stanley chief economist Stephen Roach at a luncheon event organized by the China Institute. Listen to the audio podcast, or read an excerpt below. Q: Is China’s …

Tristen Langley: Start-ups Within Chinese Internet Companies Generate Great Value

In this episode of China Money Podcast, co-founder of Amalfi Capital, Tristen Langley, talks with our host, Nina Xiang, on Alibaba Group’s US$586 million acquisition of an 18% stake of Sina’s Weibo, her investment firm’s winning and losing bets, and the future challenges facing China’s e-commerce industry. Listen to the full-interview in the audio podcast, watch the shortened video version or read an excerpt below.

Bluford Putnam: No Hyperinflation Like The 1970s This Time Around

In this episode of China Money Podcast, guest Bluford Putnam, chief economist at the CME Group, talks with Nina Xiang about his forecast for when the Fed will stop asset-buying programs, raise interest rates, and their impact on China. He also explains why investors do not need to worry about inflation even after the biggest monetary expansion in history.

Richard Herd: China Likely To Further Tighten Its Property Sector Later This Year

In this episode of China Money Podcast, guest Richard Herd, head of China research at the Organization for Economic Co-operation and Development (the OECD), talks with Nina Xiang about OECD’s 2013 China Economic Survey. He explaines why the OECD believes that China will overtake the U.S. as the largest economy in 2016; why the Chinese economy is already re-balancing away from heavy investment; and why Beijing is likely to tighten further the Chinese property market later this year. Listen to …

ANZ Warns Of Bubble Burst In Hong Kong’s Residential Property Market

In this episode of China Money Podcast, our host Nina Xiang reviews the latest news from the week of March 25 to April 1, 2013. – China’s official PMI (Purchasing Managers’ Index) number rebounded significantly in March, consistent with the rebound shown in the HSBC PMI released earlier. The statistic further supports the view that China’s economic recovery is gaining momentum.

Simon Eckersley: HAO Capital-Invested Chinese Medical Equipment Maker Eyes Major Acquisitions

In this episode of China Money Podcast, founder and CEO of Beijing-headquartered, US$500 million-under-management HAO Capital, Simon Eckersley, talks with our host, Nina Xiang, on HAO Capital’s investments in the healthcare and environmental protection sectors, the firm’s plans for future fundraising, and some key methods it uses to help portfolio companies grow. Listen to the full-interview in the audio podcast, watch the shortened video version or read an excerpt below. Q: First, give us a brief introduction of HAO Capital? …

Daan van Aert: Logistic Warehouses And Car Parks Present Best Property Investment Opportunities In China

In this episode of China Money Podcast, head of non-listed real estate Asia in APG, one of the largest pension fund asset managers in the world with assets under management of approximately €325 billion, Daan van Aert, discusses with our host, Nina Xiang, APG’s investments in China such as car parks and logistic warehouses, his views on the Chinese residential property market and if distressed properties in China present good opportunities for investors. Listen to the full-interview in the audio …

Tony Hsu: Invest Like Warren Buffett With A Chinese Twist

In this episode of China Money Podcast, Dalton Investments‘ Shanghai-based portfolio manager, Tony Hsu, explains to our host, Nina Xiang, how to execute the playbook of Warren Buffett in China, the reasons why Dalton’s Asian equity strategy has consistently beat the market and his outlook for the markets in 2013. Listen to the full interview in the audio podcast, or read an excerpt below. Q: First, give us a brief introduction of Dalton Investments and Dalton’s Asian equity strategy? A: …

Antoine Dréan: Secondary Transactions Of Chinese PE Fund Stakes Among LPs Will Double In 2013

In this episode of China Money Podcast, founder and CEO of Palico, Antoine Dréan, shares what he sees the fundraising environment will be for China-focused private equity funds this year, and why secondary transactions of Chinese private equity fund stakes among Limited Partners (LPs) will likely double in 2013. Listen to the full interview in the audio podcast, or read an interview excerpt below. Q: First, give us a brief introduction of Palico and Triago, two companies you founded and …