Deals
Ping An Weighing Sale of Founder Group’s Life Insurance Business
- Ping An working with financial advisers on potential disposal
- Founder’s life insurance unit could fetch up to $1 billion
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Ping An Insurance Group Co. is considering a sale of Founder Group’s life insurance business, people familiar with the matter said, in what would be the first disposal after the latter’s court-led restructuring.
The Chinese insurance giant is working with financial advisers on the potential sale, which could value Founder’s life insurance unit at as much as $1 billion, the people said, asking not to be identified because the matter is private. Other insurers and investment funds have shown preliminary interest in acquiring the business, the people said.