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Anbang sells Vivat subsidiary

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Magazine Issue: 
China’s awakening sends shockwaves around the world [3]
Magazine date: 
Oct 2018

The Chinese insurance group Anbang is considering selling its Dutch subsidiary Vivat for the amount of 1.5 billion EUR (1.73 billion USD). The insurer has appointed JPMorgan bank to carry out this transfer.

For the record, Vivat was formerly the insurance division of the financial group SNS Reaal. It was purchased by Anbang in 2015 for the price of one symbolic euro and a 1.35 billion EUR (1.47 billion USD) cash injection.

According to sources familiar with the case, Dutch insurers Aegon and ASR would be among the potential buyers.

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Fri, 19/10/2018 - 12:30

Source URL: https://www.atlas-mag.net/en/article/anbang-sells-vivat-subsidiary

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