Swiss Re [4] is definitively leaving the capital of New China Life Insurance. The transaction is worth 2.3 billion HKD (296.41 million USD).
In 2013, Swiss Re had acquired 4.9% of the Chinese insurer's capital. The reinsurer then sold almost half of its stake for a sum of 3.55 billion HKD (457.5 million USD).
Swiss Re has not provided any explanation regarding the sale of its stake.
● | Asia Insurance News [5]
Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fswiss-re-sells-its-stake-in-new-china-life-insurance&text=Swiss+Re+sells+its+stake+in+New+China+Life+Insurance
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fswiss-re-sells-its-stake-in-new-china-life-insurance&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/atlas-magazine-june-2021
[4] https://www.atlas-mag.net/en/article/swiss-re
[5] https://www.atlas-mag.net/en/category/regions-geographiques/asie