Caixin
Jun 10, 2022 05:21 AM
FINANCE

Tianan Property Insurance Offers Its Assets for $314 Million

Tianan is one of nine affiliates of Tomorrow Holding seized in July 2020 by regulatory authorities citing lawbreaking.
Tianan is one of nine affiliates of Tomorrow Holding seized in July 2020 by regulatory authorities citing lawbreaking.

Tianan Property Insurance Co., a government-seized affiliate of Tomorrow Holding, put up its assets for sale as regulators unwind the troubled conglomerate’s sprawling empire.

Tianan listed its insurance assets at the Shanghai United Assets and Equity Exchange Thursday, seeking bidders with an asking price of 2.1 billion yuan ($314 million). The assets for sale include Tianan’s financial and nonfinancial assets, liabilities and insurance businesses, according to public information. Tianan also demanded that potential buyers take on its employees unconditionally.

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