AIA Group Ltd. has agreed to acquire a stake in China Post Life Insurance Co. for about 12 billion yuan ($1.9 billion) to bolster its China expansion. The Hong Kong-based insurance giant will buy a 24.99% stake in China Post Life, subject to regulatory approvals, AIA said in a filing to the Hong Kong exchange… Continue reading AIA Agrees to Buy China Post Life Stake for $1.9 Billion
Tag: AIA
AIA’s New Business Drops 37% in First-Half as Pandemic Hits Sales in Hong Kong & China
Hong Kong-based insurer AIA Group Ltd on Thursday reported a 37% fall in new business for the first half of the year, as the COVID-19 pandemic dented sales of its insurance products in its main markets of Hong Kong and China. The company’s new business value, which measures expected profits from new premiums and is… Continue reading AIA’s New Business Drops 37% in First-Half as Pandemic Hits Sales in Hong Kong & China
AIA’s Rise Highlights the Size and Promise of Chinese Financial Services
Once the crown jewel of American International Group Inc., pan-Asian life insurer AIA has eclipsed its former parent thanks to soaring demand from China’s middle class. Hong Kong-listed AIA Group Ltd., whose shares hit fresh records this month, now boasts a market capitalization of around $123 billion, more than three times that of AIG. AIA’s… Continue reading AIA’s Rise Highlights the Size and Promise of Chinese Financial Services