Chubb to acquire additional 15.3% of Huatai Insurance Group for $1.5bn.

Chubb, a global provider of insurance products, agreed to acquire additional 15.3% of Huatai Insurance Group, a Beijing-based insurance company, for $1.5bn. "Earlier this year, following approval from the CBIRC, we increased our ownership in Huatai Insurance Group, which became the first domestic Chinese financial services holding company to convert to a Sino-foreign equity joint venture. The agreement we are announcing today is another important milestone toward our goal of majority and beyond ownership in Huatai," Evan G. Greenberg, Chubb Chairman and Chief Executive Officer.