On January 12, 2022, the China Banking and Insurance Regulatory Commission announced its approval of an increase of the registered capital of China Post Life Insurance Co., Ltd. (hereinafter referred to as “China Post Insurance”) from RMB 21.5 billion to RMB 28.663 billion. AIA Company Limited (hereinafter referred to as “AIA”) would subscribe for the newly increased registered capital in an amount of RMB 7.163 billion, after which AIA would hold 24.99% of shares in China Post Insurance. On the same day, AIA Group Limited (stock code: 1299), the HKEX listed parent company of AIA, and China Post Insurance made an announcement respectively that AIA had completed its investment in China Post Insurance.
AIA Group Limited and its subsidiaries form the largest independent publicly listed pan-Asian life insurance group with a presence in 18 markets across Asia. China Post Insurance is a subsidiary of China Post Group Corporation and provides financial protection for the general public and emerging markets in China. This transaction is the largest ever capital and share project in China’s insurance industry.
Acting as the PRC legal counsel to AIA, JunHe’s lawyers assisted AIA in completing its investment and obtaining regulatory approval throughout this project by efficiently delivering quality and prudent legal services.
The leading partner in this project was Ms. DENG, Liang (Teresa). Partners Ms. Janet Hui, Mr. ZHAO, Jikui, Mr. LI, Zhi and Ms. ZHAO, Tingting provided expertise in their respective practice areas.