AIA Group to acquire Blue Cross Asia-Pacific Insurance from Bank of East Asia for $278m.

AIA Group, an insurance and finance corporation, agreed to acquire Blue Cross Asia-Pacific Insurance, a health insurance products provider, from Bank of East Asia, a Hong Kong banking and financial services company, for $278m. “I am delighted to expand our successful partnership with BEA and welcome Blue Cross to AIA. This investment builds on our long history in Hong Kong and underscores our confidence in its future. Our unrivalled multi-channel distribution platform is at the heart of our strategy and this new agreement deepens our exclusive relationship with one of the leading domestic banks in Hong Kong. This transaction also strengthens our position as a leading health insurer. Powered by AIA’s digital transformation and a full suite of health insurance propositions, we will unlock further growth potential and help many more people live Healthier, Longer, Better lives," Jacky Chan, AIA Regional CEO.