Chinese life insurance company takes stake in Sotheby’s

Taikang Life, one of China’s biggest life insurers, has become the single largest shareholder of Sotheby’s, the auction house, by acquiring a 13.5 percent stake. According to a regulatory filing on Wednesday, Taikang owns Sotheby’s shares worth around $233 million, ahead of other top investors including Third Point, BlackRock and Point 72 Asset Management. Sotheby’s has…