Hong Kong’s insurance sector has introduced fast-track measures while pledging more than HK$100m (US$13m) to support those affected by the Wang Fuk Court fire.
AUB Group said its board viewed the A$45 per share offer as fair but confirmed talks ended after PE firms declined to make a binding offer at the proposed valuation.
Taiping Hong Kong pledges swift claims handling and full support for those affected by the fire that has killed at least 94 people at the scaffold-wrapped estate.
November events added up to A$510m (US$332m) in estimated losses, with nat cat events depleting two-thirds of insurer's natural hazard allowance less than five months into the year.
The fire has killed at least 94 people, with insurance claims estimated at HK$2.6bn (US$334m), and general property and CAR policies described as "severely underinsured".
Qiu will maintain her current role while taking on expanded responsibilities as CEO, Global High-Net-Worth and Chief Partnership Distribution Officer, Asia
