Another acquisition

China’s Thaihot Group has agreed to purchase the insurance business unit of Hong Kong bank Dah Sing for $1.4 billion; that’s nearly three times Dah Sing insurance’s 2015 embedded value, which is the net asset value of an insurer plus the present value of potential future profits from existing life and health insurance contracts. Bottom Line: Chinese investment firms are paying a hefty price to diversify their risks out of a slowing economy.