2025.11.25
In October 2025, Yuexiu Group, through Yuexiu Insurance (Holdings) Limited, acquired 83.33% of the shares of Hong Kong Life Insurance Limited (Hong Kong Life) from Asia Insurance Company Limited, OCBC Wing Hang Bank Limited, Shanghai Commercial Bank Limited, and CMB Wing Lung Insurance Company Limited. Upon completion of this transaction, and combined with the 16.67% shares held by its subsidiary Chong Hing Insurance Company Limited, Yuexiu Group achieved full ownership of Hong Kong Life, marking the largest life insurance acquisition in the Hong Kong market since 2024. Yuexiu Group injected an additional HKD 1 billion into Hong Kong Life, expanding its diversified presence in insurance products, services and channels.
Yuexiu Group was founded in Hong Kong in 1985 and developed into a Guangzhou-based state-owned enterprise. It has a modern industrial system encompassing finance, real estate, transportation infrastructure and food, known as a '4+X' model. By 2024, the group's asset scale exceeded RMB 1.1 trillion, making it the largest local state-owned enterprise in terms of assets in Hong Kong. In the financial sector, Yuexiu Group had previously established a presence in banking, securities, futures, and investment, among other financial licenses. The successful acquisition of Hong Kong Life not only completes a crucial puzzle in Yuexiu Group's insurance sector but also formally constructs a cross-border financial ecosystem centered on banking, insurance, securities, and investment. This has significant strategic importance for Yuexiu Group in further solidifying industry collaboration, advancing innovative business models such as 'pension insurance + wellness communities' and 'insurance funds + patient capital', and deepens the integration of industry, finance and social welfare.
JunHe was the domestic legal counsel for Yuexiu Group in this acquisition and capital injection transaction, and provided comprehensive domestic legal services for Yuexiu Group's acquisition of Hong Kong Life through its overseas structure and subsequent capital injection. With Yuexiu Group's special attributes as a state-owned enterprise investing in cross-border financial institutions, JunHe demonstrated the legality and compliance of the overseas acquisition and capital injection, as well as the management authority and procedural requirements for state-owned assets. JunHe offered clear legal assessments and practical guidance on critical and complex issues such as the internal and external regulatory approvals involved in the transaction.
The project was led by JunHe partner Mr. ZHANG, Ping (Pete) and Counsel Ms. CHEN, Yi (Joyce). The main handling lawyer was Ms. CHEN, Yi (Joyce).
