Home> Newsroom> Anbang Updates

The China Banking Insurance Regulatory Commission approved plans on March 28 for China Insurance Security Fund (“CISF”) to inject RMB 60.804 billion of capital into Anbang Insurance Group (“Anbang”). The capital injection will be supportive of strengthening Anbang’s risk management, ensuring ample liquidity and maintaining the stability of its operations. Anbang’s registered capital remains at RMB 61.9 billion following the capital injection by CISF.

 

CISF, a non-governmental industrial fund, will temporarily hold shares in Anbang during this phase of Anbang’s interim management. CISF will gradually transfer its shares in Anbang in accordance with the company’s strategic transition in order to maintain Anbang’s status as a private company.

 

Anbang will officially start to select strategic shareholders in the near future to actively introduce large-scale private investors with a strong capital position, distinct core business, sound investment philosophy and strong operational track record to participate in its equity restructuring. The company will in particular welcome private companies in the area of pension insurance, healthcare, Internet and technology, and those that share synergic resources with its core insurance business.

 

Interim Management Working Group

April 4, 2018