Anbang seen on track to become liability-driven investor
Now in the hands of a state-controlled fund, the once-highly acquisitive Chinese insurer is expected to return to insurance basics before eventually being returned to the private sector.
Slowly emerging from the epic hangover that befell it after a daredevil asset binge, Anbang looks to be on the virtuous path back to becoming a more circumspect liability-driven insurer.
In a statement on Friday, the China Banking and Insurance Regulatory Commission (CBIRC) said it had approved changes in Anbang’s shareholding structure, which left China Insurance Security Fund (CISF) owning 98.23% of the firm. The remaining stake is split between SAIC Motor Corp and China Petroch…
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