Magazine date:
Apr 2010 The Chinese number one insurer, China Life, and number two, Ping An, have both refused to join the British Prudential in a bid to takeover AIA, the subsidiary of AIG. The transaction, estimated at 35.5 billion USD stands as the most important acquisition ever to be made in the Chinese insurance sector. For Prudential, the strong expansion of the Asian demand regarding the financial services justifies such takeover. Specialists are expecting that Prudential seeks new allies to successfully achieve this acquisition.