Ping An Insurance said Reuters report, alleging Chinese authorities directed the insurer to assume control of embattled property developer Country Garden, is 'completely untrue'.
Sumitomo Life injects further SG$180m (US$133m) into Singlife, while in the midst of finalising US$900m acquisition of Aviva Group's stake in the Singaporean insurer.
The deal would be the largest foreign investment in India’s insurance sector and follows regulatory changes in 2021 which made foreign ownership possible in the space.
The purchase will strengthen bolttech's operations in Europe, Asia, and Africa, including expansion of its footprint to four new countires: Poland, Croatia, Lithuania, and South Africa.
German insurance giant Allianz is set to sell its 49% stake in CPIC Fund Management to Guotai Junan Securities, marking the end of a partnership which started in 2003.
