Pacific Century Group ("PCG" or the "Group”) is delighted to announce that today the acquisition of the Hong Kong, Macau and Thailand insurance businesses from ING Groep N.V. (“ING”) was completed following receipt of necessary regulatory approvals. These acquisitions mark the first step in PCG's plan to develop a world class panAsian insurance business to capitalise on the long-term potential of the insurance sector through innovative products, customer-friendly technology and the best in customer service across the region.
Richard Li, Chairman of PCG, said, “We are extremely impressed with the quality and enthusiasm of the staff and agents in these companies and we are confident that we have solid foundations upon which to grow and develop a world-class operation.”
With a vision to redefine the insurance industry and practices across the region, PCG has established a high quality and experienced group management team, which will be further strengthened in the coming months. Furthermore, the Group is presently in the process of developing a new identity and branding for its insurance business. The new brand, to be unveiled in the coming months, will reflect the Group’s ambition for its insurance operations to break new ground, conveying a fresher and more innovative approach to accelerate the growth of the business and win the hearts of customers.
The Group has enjoyed collaborating with ING to ensure a smooth and seamless transition, with no impact on current customers and their policies.
“Today is the beginning of our journey to build a world-class, pan-Asian insurance business. We will strengthen our operations in Hong Kong, Macau and Thailand, as well as look for opportunities to expand into other Asian markets. We will invest in people, in customer-friendly new technology and in how we service our customers to ensure we take forward a solid brand that will, in time, be one of the best,” commented Richard.