AIA Group Limited (and together with its subsidiaries, "AIA" or the "Group"; stock code: 1299) is pleased to announce the completion of the acquisition of 100 per cent of Blue Cross (Asia-Pacific) Insurance Limited ("Blue Cross") and 80 per cent of the shares in Blue Care JV (BVI) Holdings Limited ("Blue Care") from The Bank of East Asia, Limited ("BEA"), as well as the remaining 20 per cent of Blue Care shares from Bioworld Investments Limited.
Ms. Bonnie Tse is appointed as Chief Executive Officer of Blue Cross, reporting to Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau. She will provide management oversight for Blue Cross and Blue Care to unlock significant growth potential for AIA and help drive AIA's integrated healthcare strategy. Ms. Tse was the Chief Customer, Strategy & Transformation Officer of AIA Hong Kong & Macau, and was instrumental in orchestrating its strategic direction to ensure organisational agility and sustainable success. Ms. Tse has contributed immensely to driving holistic strategies to achieve business and profitability goals, as well as enterprise-wide transformation.
Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau, said: "The successful completion of the acquisition is a significant achievement for AIA and BEA. Not only will it accelerate AIA's health and wellness strategy in Hong Kong, but also further deepen our bancassurance partnership with BEA. Under Bonnie's leadership at Blue Cross, we look forward to helping more customers live Healthier, Longer, Better Lives."
The acquisition has received regulatory approval and marks another milestone in the long-term cooperation between AIA and BEA, following the successful commencement of the bancassurance partnership in July 2021 and the completion of the acquisition of BEA Life Limited in September 2021.