Yuexiu Enterprises (Holdings) has wrapped up its acquisition of Hong Kong Life Insurance and committed HK$1 bn ($130 mn) in new capital to fuel growth, according to BestWire.
The insurer said the investment strengthens its balance sheet and accelerates product innovation. Regulatory approval arrived in September, clearing the way for closing.
The transaction followed a deal announced last December when Asia Insurance, CMB Wing Lung Agency, OCBC Bank (Hong Kong), and Shanghai Commercial Bank agreed to sell a combined 83.33% stake to Yuexiu Insurance (Holdings), a wholly owned arm of Yuexiu.
Yuexiu now indirectly controls 83.33% of Hong Kong Life through Yuexiu Insurance. Its subsidiary Chong Hing Insurance still holds 16.67%. Combined, Yuexiu now owns the life insurer outright.
The valuation was laid bare earlier by OCBC, which disclosed it sold its 33.33% slice to Yuexiu for roughly HK$589.3 mn. At the time, OCBC pegged Hong Kong Life’s net asset value at HK$1.02 bn.
Andrew Li Feng, chairman of Hong Kong Life, described the company as a trusted brand with long-standing customer ties that align well with Yuexiu’s broader ambitions in banking, insurance, securities, and investments.
He argued the takeover lets both sides capture new synergies and build a stronger financial platform across the Greater Bay Area.
Hong Kong Life has a well-established and reliable brand and its deeply rooted relationship built with customers is highly complementary to Yuexiu’s vision of building a robust and diversified financial service platform across the Greater Bay Area
Andrew Li Feng, chairman, Hong Kong Life
Yuexiu’s capital injection, he added, secures the insurer’s foundation and opens the door for more products, expanded services, and new distribution channels.
Chief Executive Raymond Chang pointed directly to retirement and health coverage as key drivers. He said Hong Kong Life gains stronger branding, higher value, and broader product offerings under Yuexiu’s ownership. For him, the demographic shift is impossible to ignore.
In view of the aging population and the trend of more Hong Kong citizens moving northward for retirement and medical services, Hong Kong Life is determined to develop more retirement and health protection solutions with enhanced supporting services, contributing to the integration development of the Greater Bay Area
Raymond Chang, Chief Executive
With more Hong Kong citizens aging or moving northward for healthcare and retirement, Chang said the insurer intends to develop better retirement and health protection solutions while improving supporting services. That, he noted, positions the company as a contributor to Greater Bay Area integration.
Hong Kong Life distributes through about 130 points of sale, spanning Chong Hing Bank, CMB Wing Lung Bank, OCBC Bank (Hong Kong), and Shanghai Commercial Bank.
We think that network, paired with Yuexiu’s capital muscle, signals a sharper competitive push in a market hungry for retirement and health-focused products.
