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Market for US landmark buildings risky: China Life

Buying by insurer's competitors have pushed up prices of trophy assets

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Chinese insurers spent an estimated US$15b on overseas properties last year alone. Those included Anbang Insurance Group Co's US$1.95b purchase of New York's Waldorf Astoria hotel in October.

Beijing

CHINA Life Insurance Co, which is seeking to invest more of its US$362 billion of assets abroad, said the market for US landmark buildings has become risky after buying by its competitors pushed up prices of trophy assets.

"In some hot-spot regions, landmark properties'

sentifi.com

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