China's Anbang buys first US insurer

China's Anbang Insurance Group has bought US life insurer Fidelity & Guaranty Life for $1.57bn (£1.04bn).

According to Anbang the transaction will make it one of the largest insurers by market share in fixed indexed annuity products in the US.

The offer is for $26.80 a share, a 29% premium over the

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