Hong Kong Tycoon Richard Li Seeking Southeast Asian Insurers
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Hong Kong tycoon Richard Li’s Pacific Century Group is stepping up its search for assets in Southeast Asia after spending more than $2 billion to acquire insurance units at home and in Macau and Thailand.
The company has been considering options to extend its presence over the last six to 12 months, Ronald Arculli, who was named chairman of the insurance unit FWD Group, yesterday said in an interview. The group will pursue acquisitions or strategic partners and new licenses, he said.