JD Capital is the leading bidder for Dah Sing’s insurance operations a person familiar with the matter said on Thursday, in the latest sign of Chinese financial institutions looking to diversify overseas.
Beijing-headquartered JD Capital has bid around $1.1 billion the person said. Other bidders include Guangdong-based property developer Country Garden and Chinese insurance firms.
Established in 2007, JD Capital is similar to other privately owned Chinese peers such as Fosun and Anbang, which have struck high-profile deals in recent years as they look to rapidly build international financial services platforms using the steady cash flow from insurance premiums.
Domestically, Chinese investment managers'...