Chinese insurance firm buys into Fortis

The Chinese firm Ping An Insurance has taken a 4.2% stake in the Dutch-Belgian financial services group Fortis.

Ping An is paying €1.8bn for the stake, Fortis said on Thursday.
Under the terms of the deal, the Chinese company will be entitled to nominate one member to the Fortis management board as long as its interest remains above 4%.
Fortis said the involvement of Ping An will give the concern better access to the lucrative Chinese market where it is the second biggest player on the life insurance market.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation