Anbang to Seek Extension for Buy of U.S. Life Insurer
Beijing-based Anbang Insurance Group Co. is going to extend the deadline of buying US life unsurer Fidelity & Guaranty Life again and both companies may have agreed to the extension, but details such as the new deadline are still being worked out. This deal was established in Nov. 2015, Anbang Insurance Group Co. is going to spend $1.57 billion to buy Fidelity & Guaranty Life. Anbang Insurance Group Co. is one of the biggest companies in Insurance field in China. It included propriety insurance, life insurance, health insurance, retirement insurance, business insurance, rental insurance, and so on. It has more than 30000 employees and over 30 million customer across the globe.
Since 2014, Anbang is buying other companies, it have already bought insurance companies in Europe, Asia, and North America, established a giant insurance network around the world. Anbang stated that, this purchase is intended to give better service to those oversea Chinese insurers, and also to serve those who want to get into China. In the future, Anbang is going to find more corporate opportunities around the world in order to make a global business plan, make a better network and give better services.