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Ageas enters the Asian reinsurance market

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Magazine Issue: 
The pandemic risk, insurers’ future Eldorado [3]
Magazine date: 
Jul 2020

AgeasThe Belgian insurer Ageas has reached an agreement with China Taiping Insurance Holdings (CTIH), parent company of Taiping Reinsurance. The terms of the agreement stipulate that Ageas shall take a 25% stake of Taiping Reinsurance’s capital that is 388 million USD.

Such operation enables the Belgian insurer to penetrate the Asian reinsurance market, one with a considerable growth potential. The transaction will be finalized during the last quarter of 2020 upon regulatory approval.

Taiping Re is based in Hong Kong. Its performances are excellent with an average annual premium growth of 27% since 2013. In 2019, the company recorded a turnover of 1.7 billion USD.

Read also | Easing restrictions on foreign investments in China [4]

Tue, 01/09/2020 - 16:55

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