This growth will be driven “by potential acquisitions of rival insurers or pension providers as well as by organic growth”, the South China Morning Post said in a story in its online edition.
“I am open-minded on acquisition opportunities as there are more than 140 insurance companies in Hong Kong. If some insurers or Mandatory Provident Fund providers want to walk away from the market, we will consider that," Harrison is quoted as saying.
Axa’s business in Hong Kong has grown 26% over the past two years, making it the fourth largest insurer there after AIA, Manulife International and Prudential, according to the SCMP.
The South China Morning Post interview came ahead of an unveiling of a blueprint for future growth in the region by Axa, including "a major rebranding project", that Harrison said was due to take place today.
Among Axa’s plans are to change the Axa China Region’s Chinese name "to match the Chinese translation of its parent company Axa" while leaving the English version unchanged. "The rebranding will mark the beginning of an era and a new chapter of expansion,” Harrison told the SCMP.
To view the story on the SCMP’s website, which has a paywall, click here.
