CEFC China Energy has signed a partnership with Portugal’s Associação Mutualista Montepio for the insurance sector, Portuguese newspaper Expresso reported.
Although the agreement is of a commercial nature, the entry of the Chinese private conglomerate into the capital of Montepio’s insurance companies is a matter that would also be addressed.
The total sale of Montepio’s insurance arm is not an option, but it is part of the strategy of the Chinese group, having already discussed the purchase of a stake in insurers Lusitânia, LusitâniaVida and NSeguros.
Chaired by young businessman Ye Jianming, the CEFC group, with origins in the oil sector, has moved to expand its interests in Europe in the insurance and asset management área.
