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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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Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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FIRRMA Bill is a Big Deal for Foreign Asset Owners

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The United States Treasury is analyzing options on further restricting investments into “sensitive” sectors, such as technology and defense, in the United States from Chinese state-owned capital. The U.S. Commerce Department, under the export control regime, banned U.S. companies from selling parts to ZTE Corporation, a Chinese telecommunications manufacturer, for seven years. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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