Global Insurance M&A News: Asia Pacific update, October 2015

Insurance M&A News: Asia Pacific update Q4 2015

Activity in China/Hong Kong’s insurance sector is on the rise with a number of large deals.


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Tall buidlings by the lake side

DEAL ACTIVITY Remains strong in Asia

  • Baotou Huazi Industry Co Ltd has agreed to acquire a 51 percent stake in Huaxia Life Insurance Corporation Ltd for a cash consideration of CNY 31.68 billion (US$4.9 billion). The transaction is in line with Baotou Huazi Industry’s strategy to transfer into a listed company operating primarily in the sugar making and insurance business.
  • A large private equity deal with JD Capital Co Ltd acquiring Ageas Life insurance business in Hong Kong for a cash consideration of HKD 10,688 million (US$1.38 billion). With this acquisition, JD Capital will enrich its financial services portfolio whilst the sale is in line with Ageas NV's strategy for its Asian activities.
  • Xishui Strong Year Co Ltd Inner Mongolia has agreed to acquire 39.5 percent stake in TianAn Property & Casualty Insurance Co Ltd for a total consideration of CNY 13.53 billion (US$2.11 billion).

Besides these multi billion dollar deals, a few smaller transactions were also witnessed in the country, including:

  • Alibaba's financial service affiliate, Ant Financial has agreed to buy 60 percent stake in Cathay Insurance Co. for CNY 1.2 billion (US$188 million). This will allow Ant Financial to expand its products whilst Cathay can position itself to bring innovative internet financial services to its clients.
  • Bank of China Insurance Co Ltd has agreed to acquire a 51 percent stake in Samsung Air China Life Insurance Co Ltd for a consideration of CNY 1.28 billion (US$200.4 million).

In Japan one of the biggest deals was announced between Nippon Life Insurance Company and Mitsui Life Insurance Company Ltd. Nippon Life plans to acquire 66.67 percent to 80 percent stake in Mitsui Life. For the 80 percent stake it is planning to offer JPY 300-400 billion (US$2.5-3.3 billion).

For more information on how KPMG’s global network of member firms can help you with your M&A activities, please contact

Note: Content for this newsletter has been compiled from a variety of publicly available sources.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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