August 8, 2018 / 1:36 PM / a year ago

China's Ping An Insurance looks to buy Prudential's Asia business- Bloomberg

Aug 8 (Reuters) - China’s most valuable insurer Ping An Insurance Group is looking to buy Prudential Plc’s Asian business, Bloomberg reported, citing people familiar with the matter.

Ping An has checked to see whether China’s government would back the deal, and has also talked to banks about potential financing options, Bloomberg said.

Talks were at an early stage, the report here said.

The insurer, Britain’s largest, had not been approached by Ping An, a source close to the matter told Reuters.

Asia helped Prudential beat first-half profit forecasts on Wednesday. (Reporting by Noor Zainab Hussain in Bengaluru; editing by Carolyn Cohn in London)

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