Singapore acquisition
The acquirer has been named as Singapore-based holding company China Minsheng (CMIG) International.
Parent company CMIG was founded in 2014 by 59 private companies and is headquartered in Shanghai.
The international arm is working to become a major global insurance investment group.
In Europe and in the US, it plans to form a business portfolio consisting of reinsurance, special insurance and property insurance.
In Asia, it plans to build a business portfolio consisting of reinsurance, life insurance, property insurance and internet insurance.
There is no reference to Latin America on CMIG International’s website, indicating that the Old Mutual acquisition is the first purchase the firm has made in the region.