Chubb increases stake in Chinese insurance company

Chubb Limited has announced that it has agreed to purchase an additional 15.3% of Chinese insurance company Huatai Insurance Group Company Limited. Upon completion of the transaction, Chubb is expected to own 46.2% of Huatai Insurance Group. The parties have also agreed to a subsequent purchase of an additional 7.1% of the company, contingent on the completion of the first purchase. Huatai Insurance Group is the holding company of Huatai P&C Insurance Company, Huatai Life Insurance Company, Huatai Asset Management Company, and other subsidiaries. Huatai Group’s insurance operations have more than 600 branches and 11 million customers.

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