The Chinese government is said to be looking to sell Korean insurers Tongyang Life and ABL Life as it offloads the overseas assets of China Insurance Group, which it seized in February. The asset sale is seen as a bid to resolve China's liquidity issues, however, there are concerns that interest could be hampered by the incoming International Accounting Standards Board's IFRS 17 regulations, which require insurers to maintain higher capital reserves.
The Chinese government is said to be looking to sell Korean insurers Tongyang Life and ABL Life as it offloads the overseas assets of Anbang Insurance Group, which it seized in February. The asset sale is seen as a bid to resolve Anbang's liquidity issues, however, there are concerns that interest could be hampered by the incoming International Accounting Standards Board's IFRS 17 regulations, which require insurers to maintain higher capital reserves.