Dajia Insurance Completes Disposal of All Overseas Financial Assets

　　Exclusively learned by a China Securities Journal · HSBC Jinngzu reporter on August 19th, in July this year, Dajia Insurance successfully transferred its equity in Korean Tongyang Life Insurance and Korean ABL Life Insurance to Korea's Woori Financial Holding Company. So far, all seven overseas financial assets that Dajia Insurance took over from Anbang Group have been disposed of. The disposal work seized the favorable opportunity of rising local market interest rates, achieving substantial disposal profits overall.

　　It is understood that the seven overseas financial assets include Dutch VIVAT Insurance Group, Belgian Fidea Insurance Company, Belgian Nagelmackers Bank, Korean Tongyang Life Insurance, Korean ABL Life Insurance, and two Korean insurance asset management companies, accounting for 90% of the company's total overseas assets. In addition to the above financial assets, Dajia Insurance has previously completed the disposal of multiple non-financial assets.

　　According to the reporter's previous understanding, when Dajia Insurance was established, it took over 15 overseas projects from Anbang Group, distributed in the United States, Canada, the Netherlands, Belgium, Japan, South Korea, and other countries, characterized by large quantity and diverse formats. On one hand, Dajia Insurance strengthened the management of these projects, striving to overcome adverse effects such as inflation to ensure asset preservation and appreciation; on the other hand, it disposed of them at opportune times, adhering to the principles of standardization and transparency throughout the process to maximize the fairness and transparency of transactions.

Article source: China Securities Journal · HSBC Jinngzu