News Feed Item

Acquisition of Hong Kong Dah Sing Life by Tahoe Investment Group

Developing a Strategic Integrated Financial Industry Chain; Hong Kong as a Stepping Stone to the Wider World; Ms. Paula Wai-Yee Choi is appointed Chief Executive Officer of Dah Sing Life

HONG KONG, CHINA -- (Marketwired) -- 06/19/17 -- Tahoe Investment Group Co., Ltd. (Tahoe Investment) announced today it has completed the acquisition of Dah Sing Life Assurance Company Limited and Dah Sing Insurance Services Limited (collectively Dah Sing Life). Under the agreement, the acquisition of Dah Sing Life and Macau Life Insurance Company Limited (Macau Life), as well as the bancassurance agreements for exclusive 15-year bancassurance partnerships with Dah Sing Bank and Banco Comercial de Macau, S.A. (BCM), are for HK$ 10.6 billion. Completion of the acquisition of Macau Life and distribution arrangement with Banco Comercial de Macau, S.A. (BCM) are expected to take place after regulatory approval in Macau authority in the near term. The signing ceremony was held today in the presence of Mr. Huang Qisen, the Chairman of Tahoe Investment Group Co., Limited and Mr. Harold Wong, Vice Chairman of Dah Sing Bank, Limited.

Tahoe Investment expands to include high-end life insurance following acquisition of Dah Sing Life
Commenting on the completion of the acquisition, Mr. Huang Qisen, the Chairman of Tahoe Investment Group Co., Limited, said, "Tahoe Investment promotes people-oriented programmes and scrupulously abides by our core values to make charity and corporate social responsibility an integral part of our business operations. With the mission to serve and care for customers for life by embracing the spirit of craftsmanship, Tahoe Investment is devoted to developing and investing in financial services, real estate, medical services, healthcare, culture and education. As a comprehensive investment group, we focus on financial services, healthcare and real estate, making steady progress in each sector to build on 'A Century of Heritage'. Through this acquisition, Tahoe Investment further improves its foundation in the financial services sector and also makes important progress in global layouts and consolidates its development strategy to become an enhanced integrated investment group. Building on the principles of Dah Sing Life, Tahoe Investment will offer exceptional value for its customers, shareholders and society as a whole."

Dah Sing Life, as a wholly-owned subsidiary of Tahoe Investment, is fiscally important for the business. As a comprehensive insurance company, Dah Sing Life will maintain its services after the acquisition to provide diverse and premium products, including life insurance services, savings protection plans, health and medical protection plans and investment-linked assurance schemes. This acquisition marks an important milestone for Tahoe Investment Group. Through this acquisition, Tahoe expands its business internationally from Hong Kong and Macau by carrying its corporate mission -- "to serve and care for customers for life" -- with the objective of becoming a leading company in the insurance industry.

Tahoe Appoints Ms. Paula Wai-Yee Choi as CEO to lead Dah Sing Life's Strategic Development
In order to optimise Dah Sing Life's management structure, Tahoe Investment announced today the appointment of Ms. Paula Wai-Yee Choi, who has previously held key positions in major multinational insurance companies. As CEO of Dah Sing Life, Ms. Paula Wai-Yee Choi will be in charge of Dah Sing Life's insurance operations in Hong Kong, facilitating Tahoe Investment and leading Dah Sing Life's management team to build an international brand by developing high quality products and services.

Commenting on the appointment of Ms. Paula Wai-Yee Choi, Mr. Huang Qisen said, "Ms. Paula Wai-Yee Choi possesses over 30 years' experience in the insurance industry and developed a profound understanding of insurance markets in Hong Kong and the Asia-Pacific region. Paula's appointment would definitely benefit both Tahoe Investment and Dah Sing Life as well as their clients. Tahoe Investment is committed to delivering high quality products and services to our customers across different fields. We look forward to working together with Ms. Paula Wai-Yee Choi and her team to become an industry leader. Meanwhile, we hope to promote our core ethos of putting people-first, innovation and honesty and integrity to Hong Kong."

About Tahoe Investment Group Co., Ltd.
Tahoe Investment Group Co., Ltd. (Tahoe Investment), was founded in 1993 by Mr. Huang Qisen. It is a leading conglomerate with investments in financial services, real estate, medical services, healthcare, culture and education. To date it has equity holdings in two listed companies and equity participation in one listed company with total assets over RMB 130 billion. The total assets held and/or managed by Tahoe reached RMB 233 billion.

Tahoe Investment covers a wide range of financial businesses including banking, insurance, securities and third-party payments. It is one of the founding shareholders of Haixia Life Insurance Company Limited and a major shareholder of Fujian Haixia Bank Company Limited, Rural Credit Bank of Fuzhou and Dongxing Securities Company Limited. In the healthcare segment, Tahoe Investment completed its acquisition of Fujian Huitian Bio-Pharmacy Co., Ltd. and Alliance HealthCare Services Inc. (NASDAQ: AIQ), a US-based provider of outsourced radiology, oncology and other healthcare services. Tahoe Investment has equity holdings in a listed company in mainland China -- Tahoe Group Co. Ltd. (SZSE: 000732) -- which focuses on real estate. Tahoe Group founded Tahoe Cinema and has built the first super audio-visual five-star cinema in China to actively develop its cultural endeavours.

This press release is distributed by Strategic Public Relations Group (SPRG) on behalf of Tahoe Investment Group Co., Ltd.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3149523

For media enquiries and more information, please contact:

Strategic Public Relations Group (SPRG)

Terence Lo
Tel: +852 2114 4985
Fax: +852 2114 0880
E-mail: Email Contact

Veronica Li
Tel: +852 2114 4945
Fax: +852 2114 0880
E-mail: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone in...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...