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A group of executives eager to expand Standard Chartered in the insurance industry were excited.

"The chairman is wise!"

"Yes, Chairman!"

"Chairman, we will definitely build Standard Chartered Insurance Company into an insurance giant!"

"Chairman, thank you for your support!"

···

All of them were very excited.

The chairman agreed, and they can finally show their strength and make a big difference in the insurance industry!

Today, France's AXA Group, Germany's Allianz Group, and Britain's Prudential Group... These are some of the world's largest insurance companies!

They occupy a vast market share, and if Standard Chartered wants to occupy a place in the insurance industry, it is not possible to expand step by step!

Now such a good opportunity for expansion, how can you not grasp it!

···

Chen Hui pressed his hand, and everyone quieted down.

Looking at the appearance of everyone listening to the teachings, Chen Hui said again: "I looked at the situation of the insurance industry just now, although it is a little difficult to acquire the three major insurance giants in Singapore in one go, or it can be digested for a long time, but the opportunity is rare, if you miss it, it will be difficult to have the opportunity to expand wildly in the insurance industry next time!"

"Ask for a little more, no problem!"

In 2013, Singapore's total premium income was US$27 billion, ranking 26th in the world, with an insurance depth of 6.7% and an insurance density of US$3,759, ranking 4th in Asia and 1st in ASEAN. Property insurance premiums were US$11.4 billion and life insurance premiums were US$15.5 billion.

To date, the total assets of the insurance industry are $120 billion.

There are 79 insurance companies in Singapore, including 17 life insurers, 57 property insurers and 5 general insurers, as well as 37 reinsurance companies, 61 captive insurers, and Lloyd's (Asia) has 28 Lloyd's syndicates in Singapore.

The three insurance companies that Standard Chartered is planning to acquire are the first, second and third largest insurance companies in Singapore, respectively, and occupy almost the majority of Singapore's insurance market share.

In particular, Singapore's insurance industry has a relatively sound organizational system of industry associations, including property and casualty insurance industry associations, life insurance industry associations, reinsurance industry associations, insurance brokers industry associations and agent associations.

Insurance in Singapore is very popular with Asians, and Standard Chartered is well worth spending $5 billion!

Therefore, Chen Hui transferred half of the $10 billion proprietary funds of the Standard Chartered Investment Bank Trading Department to expand the insurance market!

After all, the influence of the insurance market is also unprecedentedly huge!

Finally, Chen Hui looked at Huang Hongnian, who had a gloomy face, and asked, "Old Huang, do you have any questions?"

Huang Hongnian immediately said embarrassedly: "No, chairman!" Now that Chen Hui has spoken, it is not good for him to raise objections.

Chen Hui nodded, and said to many high-level executives: "I hope that Standard Chartered Group is a giant financial group that spans all financial industries!"

"Now Standard Chartered Bank, Standard Chartered Investment Bank, Standard Chartered Insurance Company, Standard Chartered Trust Company, Standard Chartered Financial Leasing Company... None of them are the hegemons in the industry, so we still have to work harder!"

Everyone said in unison: "Yes, chairman!"

····

After the meeting, the $10 billion self-operated funds of Standard Chartered Investment Bank's trading department were immediately withdrawn from $5 billion, leaving only $5 billion as operating funds!

For this reason, Huang Hongnian also wanted Chen Hui to instruct the operation of the trading department of Standard Chartered Investment Bank!

So that the proprietary assets of the trading department will double again, back to $10 billion!

··

At around 3 o'clock in the afternoon, Standard Chartered Group announced that its Standard Chartered Insurance Company acquired Asia's General Holdings, a large insurance company in Singapore, ACR Capital (Asia Capital Reinsurance Group), and Great Eastern Insurance Group at a price of $5 billion!

Among them, it spent $1 billion to acquire ACR Capital (Asia Capital Reinsurance Group)!

Spent $1.5 billion to acquire Asia General Holdings!

Spent $2.5 billion to acquire Great Eastern Insurance Group!

Standard Chartered's assets have increased by $50 billion!

From $40 billion to $90 billion!

Standard Chartered's assets are also as high as $1.18 trillion.

This move also shocked Asia!

After all, after the establishment of Standard Chartered Bank Holding Company (Standard Chartered Group), the action was very small, but I didn't expect to directly use $5 billion this time to acquire the three giant companies in Singapore's insurance industry!

No less than still having a bomb in the insurance industry in Southeast Asia!

It shocked the insurance industry in Asia!

Lianhe Zaobao: "Standard Chartered Group has begun to expand in the insurance industry, acquiring three Singapore insurance giants for $5 billion!"

ATV News: "Standard Chartered Insurance Company, a subsidiary of Standard Chartered Group, swallows Great Eastern Insurance Group, Asia Capital Reinsurance Group, Asia General Holdings!"

Financial Times of Malaysia "Standard Chartered Group's new move, US$5 billion acquisition of Singapore's three major insurance giants, in one fell swoop has established Standard Chartered Insurance Company's position as the first in Southeast Asia!"

Indonesia Times: "Standard Chartered Insurance Swallows Three Insurance Giants in One Go, with Assets of up to $90 billion!"

Curry Finance: "The deep-pocketed Standard Chartered Group has begun to seize the market share of Asian insurance!"

Dongying Economic Net: "Standard Chartered Group has taken over Asia General Holding Company from Toei's Tokio Marine Nichido Fire Insurance Company!"

Bangziguo Finance: "Standard Chartered Group intends to build the first insurance giant in Southeast Asia!"

Hong Kong Financial Times: "Standard Chartered Insurance Company is on the rise!"

···

This news is good for the stock price of Standard Chartered Group!

Countless investors and financial institutions have begun to absorb Standard Chartered shares!

The walkers outside the venue were excited!

"You can buy it!!"

"Standard Chartered's stock price has been sluggish for too long, you can buy it!"

"Buy!"

The streakers who were trapped in the high position were even more excited, after all, they had chased the shares of Standard Chartered Group, but after the Standard Chartered Group made trouble with the money laundering door again, the stock price has been sluggish, and they have been trapped for a while.

"It's up, it's up!"

"It's time to untie it!"

"Alas, I've been taking it for so long, and I can finally untie it!"

"Let's go up!"

"Haha, let's go up!"

···

As a result, Standard Chartered's stock price rose sharply in the middle of the afternoon session!

In half an hour, the stock price rushed from HK$80.0 per share to HK$82.0 per share!

Then it shook wildly at 82.0!

In the end, it was under pressure again and failed to stand firm at HK$82.0 per share, and the stock price of Standard Chartered Group fell from HK$82.0 to 81.8 at the close!

This is the reason why many retail investors who have been trapped in a high position have unbundled.

However, the market capitalization of Standard Chartered Group rushed from $93 billion to $95 billion today!

That's an increase of $2 billion!

After all, the stock price of Standard Chartered Group has been fluctuating at a high level recently, and it is very sluggish, and it is finally strong today.