Chubb to raise its stake in Huatai Insurance Group

Chubb has been granted approval by the Chinese regulator (CBIRC) to acquire 35.9% of Huatai Insurance Group. Chubb's stake in the Chinese insurer will thus increase from 47.3% to 83.2%. The transaction is expected to be finalized at the beginning of Q1 2023.

The operation makes Chubb the first foreign financial institution to hold a majority stake in a Chinese financial services holding company.

Huatai Insurance Group operates in China through several subsidiaries including Huatai Property & Casualty Insurance Company, Huatai Life Insurance Company and Huatai Asset Management Company.