AXA to acquire 100% of Chinese insurer as foreign ownership rules relaxed

AXA has entered into an agreement with the current domestic shareholders of AXA Tianping Property & Casualty Insurance Company Ltd (AXA Tianping) to acquire the remaining 50% stake of the company and give it 100% ownership. The news from AXA comes as Allianz reveals that it has received approval from the China Banking and Insurance Regulatory Commission to create the…

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