Chubb receives nod to increase stake in Chinese insurer

China's insurance regulator has approved U.S.-based insurer Chubb Ltd. petition to increase its stake in Huatai Insurance Group Co. Ltd. to 26.2% from its current holding of 20%, Verdict.co.uk reported citing sources. The approval will allow Huatai Group to become the first domestic Chinese financial services holding company to operate as a Sino-foreign equity joint venture.

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