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 which ranks 7th.

That puts the new business just outside the first division in the Hong Kong life sector. The Hong Kong market leader is AIA with a 19.9% market share,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222