Ageas to buy 25% stake in Hong Kong reinsurer

Belgian insurer Ageas SA/NV has agreed to buy a 25% stake in Taiping Reinsurance Co. Ltd., a subsidiary of Hong Kong-based China Taiping Insurance Holdings Co. Ltd., for $3.1 billion Hong Kong ($400 million), Verdict reported. The deal will enable Ageas to build its presence in the Asian reinsurance market as well as raise its share of nonlife insurance activities.

Read more.