(PCI, ) is an
Insurance Company based in
Hong Kong . It is separately listed in Hong Kong, and is controlled by
Pacific Century Regional Developments Limited (PCRD), the parent company of
PCCW . On 1 March 2007,
Fortis announced to acquire a majority stake in PCI from PCRD for 3.5b
HKD .
PCI Announcement
New Zealand Insurance Life (Bermuda) Limited was acquired and renamed Top Glory Insurance Company (Bermuda) Limited (TGI) in 1994. In the same year Pacific Century Group became the major shareholder of TGI. The name was changed again in 1999 into . In July of the same year the Pacific Century Insurance Holdings Limited (PCIHL) was listed on The Stock Exchange of Hong Kong Limited.
From PCI Official Website Pacific Century Insurance Company Limited (PCI) became the subsidiary operating life insurance and other insurance businesses.
On 26 February 2007, the share price of PCI surged 11% before the trading was suspended pending price-sensitive announcement. Three days later, the Belgian and Dutch based Fortis group announced to acquire 50.48% stake in PCI in order to expand into Asia market.
