Friend in need

Fortis is rattling its piggybank again. This time the capital-strained bancassurer may be putting its asset management business – part of which it has only just bought from ABN – in hock. Fortis reportedly wants to sell a stake in the business to Ping An, the Chinese insurer which has a 4% stake in the group. It looks like Fortis’s ABN Amro chickens are coming home to roost. Sure, overpaying for ABN isn’t the only reason for Fortis’s looming capital squeeze. The group has joined the toll of vic...