TIAN RUIXIANG Holdings Ltd., the Beijing, China-based insurance broker, announced its subsidiary TRX HongKong Investment Ltd., has entered into a memorandum of understanding (MoU) to acquire Hong Kong insurance broker Peak Consulting Services Ltd.
Financial terms of the proposed deal were not disclosed.
According to the MoU, the acquisition is conditional on satisfactory findings of a due diligence review conducted by TRX HongKong.
“We are excited about the proposed acquisition and the immense potential for the company to expand into the Hong Kong insurance brokerage market, which can offer robust growth opportunities,” commented Zhe Wang, chairman and CEO of the company. “This proposed acquisition aligns well with our long-term strategic vision of becoming a player in the global insurance brokerage industry.”
TIAN RUIXIANG Holdings Ltd. is an insurance broker operating in China, which distributes two major groups of insurance products: (1) property/casualty insurance, such as automobile insurance, commercial property insurance, liability insurance; and (2) other insurance, such as life and health insurance.
Source: TIAN RUIXIANG Holdings
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