Anbang Insurance Group has acquired 100% of Dutch insurer VIVAT – making it the first time a Chinese enterprise enters the Dutch insurance market.
A spokesperson for Anbang Insurance said the acquisition is in line with Anbang’s globalisation strategy.
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With a stable client base, Vivat’s brands, Reaal and Zwitserleven, have nearly 3 million customers with brand recognitions exceeding 80%.
Gerard van Olphen, chairman of the executive committee of SNS Reaal, said: " We know Anbang as a dedicated and professional financial insurance group that recently has been proactively expanding business on a global scale. This transaction will better guarantee the benefits of VIVAT’s policy holders and employees."
Anbang Insurance Group has total assets over RMB 800bn more than 10 subsidiaries including life and health Insurance, pension, property and casualty insurance, asset management, financial leasing companies and banks, and over 30,000 employees providing services for more than 20,000,000 clients through 3,000 branches across China.
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