Anbang Insurance Group has filled headlines with its daring acquisitions across financial services. The most recent deals have been to acquire foreign insurers but these follow a dramatic domestic expansion.
The company is now the largest shareholder in Minsheng Bank, holds stakes in Industrial and Commercial Bank of China, and is a shareholder in three other banks, six insurance companies, a financial leasing group, a property developer, and two fund management companies.
Managing publicly licensed mutual funds has become the centre of competition for insurers, trust companies, securities firms, banks, and other financial institutions.
Regulation, and therefore activity, has always been fragmented in China...