Minsheng Banking (SHSE:600016) announced that the voting stake held by Anbang Insurance, together with its affiliates, has grown to 15.00% by December 25, driving Anbang Insurance to become the largest shareholder.
This March, Anbang Annuity was agreed by China Insurance Regulatory Commission to start operation, marking Anbang Insurance has all insurance licenses, such as property insurance, life insurance, health insurance, insurance sale, insurance brokerage and asset management.
Anbang was aid to be negotiating on acquiring Tianjin Trust, but the former did not reply.
Source: www.stcn.com (December 26, 2014)
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