Swiss Re possibly interested in Anbang Insurance stake, acquisition of Vivat
Switzerland-based insurer Swiss Re [SWX:SREN] has been conducting talks with Anbang Insurance about buying a stake in the Chinese peer, De Financieele Telegraaf reported, citing unnamed sources.
The talks with the Chinese authorities were also about a possible takeover of Netherlands-based insurance company and Anbang subsidiary Vivat by Swiss Re, the report continued.
Swiss Re is supposedly one of the parties asked by the Chinese authorities to discuss buying a stake in Anbang, which is having grave financial problems. A takeover by Swiss Re of Belgian insurer Fidea was part of the talks too, the report noted.
This news service earlier this week reported that the Singapore sovereign fund Temasek has had discussions with authorities in China over a potential purchase of a stake in and certain assets of Chinese insurer Anbang Insurance.
China Insurance Investment, a local entity held by some of China's largest insurers, is also mulling an investment in Anbang and is discussing with Chinese regulators.
Swiss Re has not made any decisions yet, the item added