Hong Kong: Aviva and Tencent form online life insurer
Monday, February 19, 2018
(Asia Insurance Review by AIR team) – Major UK insurer Aviva and its partners, Chinese Internet giant Tencent Holdings and private equity fund Hillhouse Capital, have agreed to develop an insurance company in Hong Kong, which will focus on digital insurance.
As part of the agreement, Hillhouse and Tencent will acquire shares in Aviva Life Insurance Company Limited (Aviva Hong Kong). Following completion of the transaction, Aviva and Hillhouse will each hold 40% and Tencent will hold 20% shareholdings in Aviva Hong Kong. The transaction is subject to customary closing conditions, including regulatory approval.
