Hong Kong company NWS Holdings will spend HK$21.5 billion (US$2.74 billion) to acquire local insurer FTLife Insurance, in the biggest insurance deal ever completed in Hong Kong.
The unit of New World Development has agreed to buy in cash the entire issued share capital of FTLife Insurance from Tongchuangjiuding Investment Management Group, in a move to diversify the property developer’s business, the company said in a statement on Thursday.
In August 2015, Tongchuangjiuding Investment…
Source : South China Morning Post
Read more…New World Development unit buys Hong Kong insurer FTLife in record US.74 billion deal















