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Sovereign Funds Pursue Insurance Companies

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Warren Buffet likes insurance companies. In general, insurance companies generate money through premiums and sometimes investment returns. Sovereign wealth funds are keen on investing in insurance companies that have resilient balance sheets and monopolistic positions in various insurance markets.

Investing in an Asian insurance company provides the possibilities of high returns, since most parts of Asia, ex-Japan are still building up their insurance industries. Mature insurance markets like in the United States offer less of a high equity investment return.

Back in 2010, the Kuwait Investment Authority (KIA) committed about US$ 1 billion to the AIA Group Ltd’s initial public offering (IPO). Other public investors participated in the IPO. AIA Group is a major Asian life insurer which was part of the American International Group Inc. In 2011, the Government Investment Corporation of Singapore joined in with investors including Goldman Sachs to purchase AXA’s stake in Chinese insurer Taikang Life Insurance.

AIA Group Limited

Fiscal Year 2011 – Total Assets by Geographic Segment Billions USD
Hong Kong 28.03
Thailand 21.52
Singapore 23.216
Malaysia 7.613
China 8.85
Korea 9.827
Other Markets 11.068
Total Assets 110.124

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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