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Chubb Gets Regulatory Nod From China to Raise Stake in Huatai to 83.2%

November 18, 2022

Chubb Ltd. announced it has received regulatory approval from the China Banking and Insurance Regulatory Commission to increase the company’s ownership in Huatai Insurance Group Co. Ltd. from 47.3% to 83.2%.

Financial details of the deal were not disclosed.

Huatai is the holding company of a number of subsidiary companies including Huatai Property & Casualty Insurance Co., Huatai Life Insurance Co., and Huatai Asset Management Co. Huatai’s insurance operations have more than 700 branches, 23,000 agents and approximately 19 million customers in China.

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