Chubb Receives Regulatory Approval to Increase its Huatai Stake to 83.2%
Chubb Limited (CB)
Last chubb limited earnings: 4/21 04:05 pm
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Source: PR Newswire
ZURICH, Nov. 18, 2022 /PRNewswire/ -- Chubb Limited (NYSE: CB) today announced that it has received regulatory approval from the China Banking and Insurance Regulatory Commission to increase the company's ownership in Huatai Insurance Group Company Limited (Huatai) from 47.3% to 83.2%.Huatai is the holding company of a number of subsidiary companies including Huatai Property & Casualty Insurance Company, Huatai Life Insurance Company, and Huatai Asset Management Company. Huatai's insurance operations have more than 700 branches, 23,000 agents and approximately 19 million customers in China. Huatai Asset Management has over $100 billion in assets under management and is licensed to manage institutional, pension and retail mutual fund businesses. As of September 30, 2022, Huatai Group had assets of over $10 billion (excluding third party funds) and equity of over $2 billion. In 2021, Huatai had total revenue of over $2 billion."This is the culmination of a 20-year effort. Upon the closi
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- 1/30/24 - Beat
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Sec Filings
- 4/15/24 - Form DEFA14A
- 4/11/24 - Form PX14A6G
- 4/3/24 - Form 4
- CB's page on the SEC website