b'TABLE OF CONTENTSKorea, Taiwan, New Zealand, Thailand, Hong Kongannounced a plan to acquire a combined 73% and Indonesia and its interest in a joint venture instake in the New Founder Group with Huafa Turkey. The transaction is expected to close inGroup. Huafa Group is controlled by the Zhuhai early 2022, subject to applicable regulatorymunicipal government. approvals. This transaction was expected toIn November 2021, the Shanghai Regulatory Bureau increase the groups Asia share of its globalof China Banking and Insurance Regulatory business portfolio. Cigna is a global health serviceCommission approved the transfer of a 49% company which provides medical, dental insuranceshareholding in China Life Insurance owned by and related products and services.CITIC Trust to Allianz (China) Insurance. On The following is a round-up of some othercompletion, Allianz China Life will become a 100%-significant transactions from around the region. owned subsidiary of Allianz China Holdings and the first wholly foreign-owned life insurance company in China China developed from a joint venture.In June 2021, AIA Group Limited (AIA)In December 2021, HSBC Insurance (Asia) Limited announced the acquisition of 24.99% equity stakereceived approval from the Shanghai office of the in China Post Life Insurance for 12 billion as partChina Banking and Insurance Regulatory of the plan to expand in China. The acquisition wasCommission to acquire the remaining 50% stake in made through AIAs wholly-owned subsidiary, AIAHSBC Life Insurance Company Limited. The Company. The acquisition was completed andacquisition would allow HSBC to increase its received all necessary regulatory approval as ofshareholding in HSBC Life Insurance Company January 2022. China Post Life was a subsidiary ofLimited to 100% upon completion. HSBC Life China Post Group, a bank-affiliated life insurerInsurance Company Limited offers a diversity of which focuses on the affluent market. AIA andinsurance services, including travel, life, health, China Post Life also entered into a businessaccident, home and golfer insurance. Upon cooperation framework agreement to explorecompletion, HSBC Life Insurance Company Limited additional business opportunities.is expected to expand capabilities to serve the growing wealth and insurance needs of customers In October 2021, Ping An Insurance Group (Pingin China, particularly in the Greater Bay Area, in An) was reported to be considering a sale oftandem with HSBC Pinnacle,a digital and mobile New Founder Groups life insurance business;wealth planning and insurance platform. however, we are not aware of any final decision on the transaction. The New Founder Group wasIndiaestablished amid the restructuring proceedings of Peking University Founder Group, a conglomerateIn August 2021, Aviva acquired 25% stake in its India engaged in health care, information technology,joint venture, Aviva Life Insurance Co from the real estate and finance business and becameBurman family. After the acquisition, Avivas stake in insolvent in late 2019. Back in April 2021, Ping AnAviva Life Insurance Co would increase from 49% to MAYER BROWN |13'