Fujian, China-based Tahoe Investment Group Co. Ltd has announced the completion of its acquisition of Dah Sing Life Assurance Company Ltd and Dah Sing Insurance Services Ltd, collectively known as Dah Sing Life.
The acquisition of Dah Sing Life, as well as its subsidiary Macau Life Insurance Company Ltd and bancassurance deals with Dah Sing Bank and Banco Comercial de Macau, S.A., were worth a combined HKD10.6 billion (US$1.36 billion).
Tahoe Investment and Dah Sing Life have assured the insurer’s policyholders that it will continue to honour its contracts and provide its services as usual, which include life insurance services, savings protection plans, health and medical protection plans, and investment-linked assurance products.
Upon taking over Dah Sing’s operations, Tahoe Investment has appointed Paula Wai Yee Choi as the insurer’s CEO. An over 30-year veteran of the insurance industry, she will be in charge of the company’s operations in Hong Kong and lead its international expansion efforts.
Commenting on the transaction, Huang Qisen, chairman of Tahoe Investment said: “Through this acquisition, Tahoe Investment further improves its foundation in the financial services sector and also makes important progress in global layouts and consolidates its development strategy to become an enhanced integrated investment group.”
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