Brief: AIA Group Announces Formation Of An Exclusive Bancassurance Partnership With Bank Of East Asia

The Bank of East Asia

24/03/2021 10:02

March 24 (Reuters) - AIA Group Ltd  1299.HK :
    * ANNOUNCES FORMATION OF A NEW EXCLUSIVE 15-YEAR STRATEGIC
BANCASSURANCE PARTNERSHIP WITH BANK OF EAST ASIA, LIMITED
    * BEA WILL DISTRIBUTE AIA'S LIFE AND LONG-TERM SAVINGS
PRODUCTS ON
AN EXCLUSIVE BASIS TO ITS RETAIL BANKING CUSTOMERS
    * AIA WILL PAY A TOTAL CONSIDERATION OF HK$5,070 MILLION FOR
EXCLUSIVE 15-YEAR LIFE INSURANCE DISTRIBUTION PARTNERSHIP
    * WILL ALSO ACQUIRE CLOSED PORTFOLIO OF LIFE INSURANCE
POLICIES
UNDERWRITTEN BY BLUE CROSS (ASIA-PACIFIC) INSURANCE
    * TOTAL CONSIDERATION WILL ALSO INCLUDE ACQUISITION OF BEA
LIFE
LTD

Source text https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0324/2021032400782.pdf
Further company coverage:  1299.HK 

 ((Reuters.Briefs@thomsonreuters.com;))