The Chinese government wants to sell the former Anbang partially or completely. It was reported by The Financial Times based on insiders. Beijing took over control of the former owner of insurer Vivat two years ago, after CEO Wu Xiaohui had been put in jail for suspicion of fraud.
Anbang, recently renamed Dajia Insurance, was until recently one of the most active Chinese companies on the takeover path. In addition to Vivat, it acquired numerous banking, insurance and real estate companies. In addition, the company also built up a huge debt mountain. Concerned Chinese authorities then intervened with a rescue of converted billions of euros.
Dajia Insurance has since divested many parts. In addition to the sale of Vivat in June to NN and investor Athora, the company also sold, for example, hotels worth $ 5.8 billion. In China, the company still has a large insurance branch and bank licenses. Dajia Insurance also has real estate in Canada, a South Korean insurer and the Waldorf Astoria hotel in New York.