The fabled Waldorf Astoria hotel in New York, which was bought by China’s Anbang Insurance, which continued its buying spree by purchasing a US life insurance company. Photo: AP

China’s Anbang extends US reach with US$1.6b purchase of Fidelity & Guaranty Life

Concerns are mounting the Beijing insurer maybe overreaching with series of global deals

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The fabled Waldorf Astoria hotel in New York, which was bought by China’s Anbang Insurance, which continued its buying spree by purchasing a US life insurance company. Photo: AP
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Summer Zhen

Summer Zhen

Summer Zhen is a business reporter covering the property markets in mainland China and Hong Kong as well as cross-border investments and the financial markets. Born in Shanghai, she holds a master's degree in Journalism from the University of Hong Kong and is a graduate of Waseda University in Japan. She has also studied in the US. A winner in the "Best Young Reporter" category at the 2014 Hong Kong News Awards, Summer previously worked for Phoenix TV and Ming Pao.

Jing Yang

Jing Yang

Jing Yang is a business reporter with the SCMP. She has four years’ experience covering companies and recently shifted her focus to markets. Jing holds bachelor of economics and master of journalism degrees and is fluent in English, Putonghua and Cantonese. She is from Guizhou province in Southwest China, a remote place famous for bizarre, breathtaking landscapes, the country’s biggest waterfall and the national wine Moutai. Always keeping an open mind, Jing would like to hear your feedback, suggestions and critiques.