Thai floods in 2011 hit ACR
Reinsurance is a game of scale
The hotly-contested auction of pan-Asian reinsurer ACR Capital Holdings illustrated Chinese players’ rush to bulk up in their home market and beyond.
Singapore-headquartered ACR said on Wednesday that two Shenzhen government-owned entities, Shenzhen Qianhai Financial Holdings QFH and Shenzhen Investment Holdings SIH, had won an auction for the firm.
In China, many banks are based in Beijing, insurers are headquartered in Shanghai...