Two insurance companies in Korea are going to be sold off as China’s Anbang Insurance Group proceeds with its divestment plan, sources said.
The Chinese government, which seized the company in February, is selecting advisers to preside over the sale of Anbang’s overseas assets, including Korean insurers Tongyang Life and ABL Life, reports The Investor. The company’s chairman, Wu Xiaohui, was arrested in June 2017 over allegations of fraud and embezzlement.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.