China’s Revamp of Anbang Insurance Includes Moving Business to New Company

Insurancejournal | May 28, 2019

China’s Revamp of Anbang Insurance Includes Moving Business to New Company
The Chinese government is taking a major step in its efforts to sell a strategic stake in Anbang Insurance Group Co., the acquisitive insurer it took over last year amid a fraud investigation into its former chairman.Under a plan overseen by the industry regulator, most of Anbang’s businesses will be moved into a newly created company called Dajia Baoxian, people with knowledge of the matter said. Some policies sold by Anbang’s property insurance unit won’t be transferred to the new entity, the people said, asking not to be identified discussing sensitive information.

Spotlight

Life insurance is part of estate planning. If you have loved ones who depend upon you financially, you need life insurance. A life insurance policy allows your beneficiaries to cover their living expenses after your death. Depending on the size of the benefit you want to provide and the amount you can afford to pay on premiums, you can choose from several different types of life insurance policies.

Spotlight

Life insurance is part of estate planning. If you have loved ones who depend upon you financially, you need life insurance. A life insurance policy allows your beneficiaries to cover their living expenses after your death. Depending on the size of the benefit you want to provide and the amount you can afford to pay on premiums, you can choose from several different types of life insurance policies.

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