JD Capital to Buy Ageas's Hong Kong Life Insurance Business
September 01, 2015
JD Capital has agreed to buy the Hong Kong life insurance business of Belgium's Ageas (BRU: AGS) for a cash consideration of roughly HKD10.7 billion (€1.2 billion). The deal is expected to close in 1H 2016. With more than 2,500 professional financial advisors, the Hong Kong business had gross inflows of €269 million in the first half of this year, with a book value of €967 million as of the end of June.