Fujia Group-led consortium to acquire Hexie Health Insurance from Anbang.

A consortium, which includes Fujia Group and four other companies, agreed to acquire a combined 100% stake in Hexie Health Insurance from troubled Anbang Insurance Group. Financial terms were not disclosed. After the transaction, Fujia Group, a privately owned company with businesses in petrochemicals, real estate, and finance, will hold a 51% stake in Hexie, becoming its biggest shareholder. The transaction has gained approval from the government group that took over Anbang in February 2018 and is pending approval from the China Banking and Insurance Regulatory Commission.