trending Market Intelligence /marketintelligence/en/news-insights/trending/fW30v9JQIXbQwHzjespS2Q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

China Cinda sells majority stake in Happy Life Insurance for 7.5B yuan

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


China Cinda sells majority stake in Happy Life Insurance for 7.5B yuan

China Cinda Asset Management Co. Ltd. said Dec. 13 that it sold its entire 50.995% stake in life and health insurance subsidiary Happy Life Insurance Co. Ltd. for 7.5 billion yuan.

The state-owned distressed asset manager sold a 30% stake in Happy Life to Champion Property & Casualty Insurance Co. Ltd. for 4.41 billion yuan, and another 20.995% stake to DongGuan Communications Investment Group Co. Ltd. for 3.09 billion yuan.

In the six months ended June 30, Happy Life's pretax profit was 590 million yuan, compared with a pretax loss of 1.08 billion yuan a year earlier, according to China Cinda's interim report.

As of Dec. 13, US$1 was equivalent to 6.98 Chinese yuan.