Sun is out in Hong Kong

Sun Life doubles Hong Kong life insurance business via acquisition of CBA business.

Sun Life has expanded its Hong Kong life insurance business via a $445 million acquisition of CMG Asia from Australia's CBA.

The deal sees Sun Life acquire the number 11th ranked player in Hong Kong. CMG Asia has a 2.4% market share in the life insurance sector among individuals based on in-force premiums. When that is combined with Sun Life's 2.1% market share that creates a larger entity with a 4.5% market share and...

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