Evergrande Group is reportedly in talks to sell a stake in its insurance arm to a Chinese state-backed firm, as the Shenzhen-based real estate conglomerate seeks to alleviate financial pressures and restructure...
The acquisition includes Liberty Seguros operations in Ireland, Northern Ireland, Portugal and Spain, which have a focus on personal lines and small commercial insurance business
Discussions are in early stages, but it's understood investment funds and other industry players are interested in a deal which would value Honan at between US$300m-$400m.
Rumors have been swirling that Tokio Marine is considering selling its SEA life businesses and sources report the group is now intensifying its efforts.