Ageas: acquisition of a stake in Taiping Pension
(CercleFinance.com) - Ageas announces that it has reached an agreement with China Taiping Insurance Holdings (CTIH) to subscribe to the capital increase of its wholly-owned subsidiary Taiping Pension (TPP), for a total consideration of approximately 137 million euros.
Following completion of the transaction, scheduled for the first quarter of 2025, Ageas will hold 10% of the enlarged share capital of TPP. The impact on the Belgian group's solvency is estimated at around four percentage points.
'This investment will enable it to capitalize on significant growth opportunities in the Chinese pensions market, by capitalizing on the growing demand for personal pension products in China', explains the insurer.
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