Monday 18 November 2019

Dutch insurance company Vivat may be sold off by Chinese owner

Photo: Vivat.nl

Dutch insurance company Vivat may be put up for sale by its Chinese owner Anbang which is currently involved in a ‘strategic reorientation’.

A sale of a majority stake in Vivat, which was spun off from SNS Reaal, is one of the options being considered, the company said in a statement on Monday. Reuters values Vivat at around €1.5bn.

‘Anbang will judge every option on its merits, without prejudice to the outcome of the strategic review,’ the company said. ‘JP Morgan has been appointed by Anbang to assist in the next phase of this strategic review.’

Vivat was taken over by Chinese insurance group Anbang in 2015 following the nationalisation of SNS Reaal at the beginning of 2013. The group and divided into a banking arm (SNS Bank) and an insurance company (Reaal, now named Vivat).

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