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June 30, 2011 at 08:00 PM
Conning & Company is going after insurance company asset management business in the Asia Pacific region.
Conning, Hartford, is working with Cathay Financial Holding Company Ltd., Taipei, Taiwan, to form an asset management company with headquarters in Hong Kong.
Conning and Cathay will be filing an application seeking approval for the joint venture with regulatory authorities in Taiwan, Conning says.
Conning and Cathay Financial will each own 50% of the stock of the new company, Conning says.
Cathay Financial will buy a minority stake in Conning.
Conning already manages assets for Cathay Financial’s Cathay Life Insurance Company subsidiary.
Aquiline Capital Partners L.L.C., New York, a private equity firm, controls Conning. The chairman of Aquiline is Jeff Greenberg, the son of Maurice Greenberg.
