Tahoe Wraps Up Dah Sing Life Acquisition

Harry Keir Hughes

20 June 2017

China-headquartered .

The acquisitions of Dah Sing Life and its affiliate, Macau Life Insurance Company Limited, as well as agreements for exclusive 15-year partnerships with Dah Sing Bank and Banco Comercial de Macau, costed HK$10.6 billion ($1.4 billion).

Completion of the acquisition of Macau Life and a distribution arrangement with Banco Comercial de Macau require regulatory approval by the Macau authority.

Through this acquisition, Tahoe expands its business internationally from Hong Kong and Macau, and intends to become a leading company in the insurance industry and to "serve and care for customers for life", it said.

"Through this acquisition, Tahoe Investment further improves its foundation in the financial services sector and also makes important progress in global layouts and consolidates its development strategy to become an enhanced integrated investment group,” said Huang Qisen, the chairman of Tahoe Investment Group .

Dah Sing Life will become a wholly-owned subsidiary of Tahoe Investment. As a comprehensive insurance company, Dah Sing Life will maintain its services after the acquisition to provide services including life insurance, savings protection plans, health and medical protection plans and investment-linked assurance schemes.

As part of the acquisition, Tahoe Investment appointed Paula Wai-Yee Choi as chief executive of Dah Sing Life. She will be in charge of the firm’s insurance operations in Hong Kong.