NWS Holdings broke the previous record for an insurance deal in Hong Kong on Thursday when it agreed to buy FTLife Insurance for HK$21.5 billion (US$2.74 billion). Photo: Reuters

New World Development unit buys Hong Kong insurer FTLife in record US$2.74 billion deal

  • NWS Holdings has agreed to buy in cash the entire issued share capital of FTLife Insurance from Beijing-based JD Capital
  • The deal tops previous Hong Kong insurance record by Yunfeng Financial Group, which acquired MassMutual Asia for US$1.64 billion in 2017
Topic |   Mergers & Acquisitions

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NWS Holdings broke the previous record for an insurance deal in Hong Kong on Thursday when it agreed to buy FTLife Insurance for HK$21.5 billion (US$2.74 billion). Photo: Reuters
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