, China
267 view s

China’s Citic mulling buying stake in Dajia insurance group

Citic could end up buying a 20% stake in the company.

China’s largest conglomerate, Citic, is said to be in talks to buy a stake in Dajia Insurance Group Co., a company created three years ago to take over assets of the now-defunct  Anbang Insurance Group Co., a report by Bloomberg said.

According to unnamed sources, Citic has been directed by the government to conduct due diligence on Dajia, after the insurance operator failed to find qualified private buyers.

READ MORE: Miller acquires Japanese broker

The state-owned Citic could potentially acquire a 20% stake in Dajia, sources said. The plan has yet to be finalised and is subject to regulatory approval.
 

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Income-Allianz failed merger shows popular opinion is king
The deal faced backlash from Singaporeans who thought it betrayed Income’s social mission.
Filipino gamers hold promise for FWD
The insurer plans to support other games and aspects of the gaming ecosystem beyond esports.