Anbang Insurance declared on December 16, 2014 that it had acquired Delta Lloyd Bank Belgium, being another case of acquiring 100% ownership of a prestigious Belgian financial institution, after acquiring its local peer FIDEA ASSURANCES, a renowned brand in the Belgian insurance market over a hundred years.
Delta Lloyd has a history of longer than 260 years, offering deposits, loans, asset management and other financial products and services to high-end private bank and enterprise customers. It is also an important banking partner of FIDEA, which was acquired by Anbang Insurance Group not long ago.
Anbang is one of the comprehensive insurance companies in China with over CNY 700 billion in assets. Under the umbrella organization, more than 10 subsidiary companies operate a wide range of business including property and casualty insurance, life insurance, health insurance, pensions, asset management, financial leasing and banking. Anbang enjoys more than 30,000 employees and over 3000 business establishments around the nation, and provides services for more than 20 million customers.
Following the successful acquisition of the bank, the group will focus on consolidating resources between Delta Lloyd and FIDEA to realize synergy. Owing to the country’s unique position as the domicile for EU headquarters, the group sees Belgium as the ideal springboard to expand its businesses and to deliver best service experience to local and Chinese clients in Europe, deploying its expertise in offering a complete package of financial services to individuals and small- or medium-sized enterprise customers.
The group stated that it would continue to look for appropriate investment opportunities around the world in the future. Following its internationalization strategy, Anbang will integrate global resources and build a unified global network to provide comprehensive financial services to its clients.