Companies
China gov’t tells Anbang Insurance to sell overseas assets
Chinese authorities have reportedly asked Anbang Insurance Group to sell its overseas assets, which include life insurers in the Netherlands, South Korea, and the United States, as the country’s insurance regulator prepares to ramp up its supervision of the sector.
India’s Reliance Nippon Life eyes M&A for distribution push
Indian life company Reliance Nippon Life Insurance is looking to expand its distribution network through a series of takeovers of bank-owned life insurers, a top company official told analysts.
Aussie regulator seeks wind up order for land banking scheme
As part of its ongoing investigation into land banking schemes, presumably on the back of the LMIM scandal, the Australian financial regulator has started legal action to wind up a scheme in which at least 82 people invested around A$800,000 (£488,212, $640,123, €546,859).
PEOPLE MOVES: Pakistan, Old Mutual Wealth, Jupiter
The Panama Papers fallout continues with the prime minister of Pakistan resigning. Old Mutual Wealth has hired an investment specialist to support advisers, while Jupiter’s head of Middle East & Africa has left the company.
BlackRock launches commodities ETF for iShares range
US asset manager BlackRock has unveiled a diversified commodities exchange traded fund (ETF) with a total expense ratio of 0.19% as part of its iShares range of passive index trackers.