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01299 AIA
RTNominal down83.950 -4.150 (-4.711%)

29/06/2021 17:56

AIA (01299) to invest RMB12,033m in China Post Life

[ET Net News Agency, 29 June 2021] AIA Group Limited (01299) announced that it has
agreed to invest RMB12,033 million through its wholly-owned subsidiary, AIA Company
Limited (AIA Co.), for a 24.99 per cent equity stake, post investment, in China Post Life
Insurance Co., Ltd. (China Post Life), subject to securing all necessary regulatory
China Post Life is a subsidiary of China Post Group Co., Ltd. (China Post) and is the
leading bank-affiliated life insurer focused on bringing financial protection to the mass
and emerging mass-affluent market in China. Through its distribution partnership with
Postal Savings Bank of China Co., Ltd. (PSBC), it has access to the largest retail
financial distribution network of around 40,000 financial outlets nationwide and more than
600 million retail customers. China Post Life currently distributes in 21 provinces,
covering 80 per cent of the PSBC network. (RC)

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