PICC eyes South-East Asia acquisitionsAugust 29 2017 by InsuranceAsia News Staff
PICC is reportedly in talks with potential acquisition targets in South-East Asia, with some of the negotiations already in an advanced stage.
China’s biggest non-life insurer may see a couple of deals happening before the end of this year, according to its vice-president Xie Yiqun.
The company executive added that the deals could include stake purchases or outright takeovers.
Beijing-based PICC Group reported half year profits of Rmb8.82 billion (US$1.33 billion) last week, up from Rmb7.73 billion in the same period in 2016.
The group also operates its life and health insurance businesses through PICC Life Insurance and PICC Health Insurance.
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