Home / Financial Services/ China’s Anbang, HNA consider buying insurance group Allianz

China’s Anbang, HNA consider buying insurance group Allianz

Comments / {{hitsCtrl.values.hits}} Views / Monday, 11 September 2017 00:00

HONG KONG (Reuters): China’s Anbang Insurance Group Co. Ltd. and HNA Group Co. Ltd. separately considered buying stakes in German insurer Allianz SE as part of plans to create a global financial empire, people with direct knowledge of the matter said.

The conglomerates considered buying a majority stake in the world’s fourth-largest insurer by market value – worth over $95 billion – while HNA was also open to a minority stake, said two people who were involved in the discussions.

The separate talks, which were at an early stage and did not result in formal bids, were called off earlier this year on expected regulatory hurdles in Germany and China and due to little interest shown by Allianz’s management, they said.

The people spoke to Reuters on condition of anonymity due to sensitivity of the issue. HNA’s plans to buy a stake in Allianz were first reported by German daily Sueddeutsche Zeitung.

Representatives at Allianz, Anbang and HNA – which has announced over $50 billion in deals since 2015 including stakes in Deutsche Bank AG and Hilton Worldwide Holdings Inc - all declined to comment when contacted by Reuters. 


Share This Article


Today's Columnists

Constitutional reform – A reply to Dr. Wijeyadasa Rajapaksa

Wednesday, 22 November 2017

The lengthy article by Dr. Wijeyadasa Rajapakshe PC on constitutional reform published in the newspapers recently appears to contain several errors of fact and of law

Ranil’s reluctant tryst with truth

Wednesday, 22 November 2017

Twenty years ago in 1998, Dr. Jayadeva Uyangoda writing in the periodical ‘Frontline’ traced our peculiar path of progress in the 50 years of independence

Omni-Channel Synchroniser for banks and financial institutions: An vision to simplify banking

Wednesday, 22 November 2017

Today, as a society we are noticing a historical shift from cash-based transactions to digitisation of financial transactions, and from the use of traditional banking channels to e-channels.

Extending the net of AML/CFT: The need for public awareness

Tuesday, 21 November 2017

By Press Notice, the Central Bank of Sri Lanka (CBSL) through its Financial Intelligence Unit(FIU), has drawn the attention of the public to “Extraordinary Gazette Notification No. 2015/56 dated April 21, 2017 prescribing

Columnists More