BHF Bank and Fosun jointly eye life insurance portfolio buys
FRANKFURT, Sept 17 (Reuters) - Frankfurt-based BHF Bank and its Chinese shareholder Fosun are working jointly to consolidate closed life insurance business in Germany and plan further acquisitions after buying a portfolio from Switzerland's Baloise. A fund created by the two investors has set up Frankfurter Leben Gruppe, a platform for buying life insurance companies or portfolios that are in "run-off" - paying out to current policy holders but no longer open to new ones - spokesmen for Baloise and BHF said on Thursday. Baloise said earlier it had agreed to sell a 1.9 billion Swiss franc ($1.96 billion) portfolio to Frankfurter Leben. The deal is pending approval by regulators. ($1 = 0.9673 Swiss francs) (Reporting by Alexander Huebner and Jonathan Gould; Editing by Maria Sheahan)
