The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong
The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong

Bank of East Asia to ride on AIA dominance in China after divesting insurance assets in partial victory for Paul Singer’s hedge fund

  • The proposed BEA-AIA alliance will compete with home rivals like HSBC and Standard Chartered in tapping Greater Bay Area potentials
  • Sale of insurance unit to AIA represents a partial victory for US hedge fund Elliott Management, whose stake in BEA has suffered a beating in past five years

Topic |   Banking & Finance
The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong
The Bank of East Asia signs a 15-year distribution deal with AIA after agreeing to sell its insurance unit in March 2021. Photo: Felix Wong
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