AIA Group Limited (SEHK:1299) has announced plans to acquire a stake in the life insurance arm of the China Post Group for CNY 12 billion (USD 1.86 billion) as it continues to expand its presence in mainland China. Hong Kong’s biggest publicly traded life insurer will buy a 24.99% stake in China Post Life Insurance through its wholly owned subsidiary, AIA Company Limited, subject to regulatory approval, according to a filing to the Hong Kong stock exchange after trading hours on June 29, 2021. “AIA’s investment in China Post Life is highly complementary to our strategy in China and enables the group to capture significant upside from additional distribution channels and customer segments,” said Lee Yuan Siong, group chief executive and president in a statement. The investment in China Post Life would enable AIA to “capture additional areas of growth and benefit from the substantial potential for value creation,” Lee said.