Posted inBusiness moves

Financial services group buys Hong Kong wealth manager

Acquirer’s goal ‘is to make a positive impact on society’.

Doo Financial has acquired an unnamed wealth management company based in Hong Kong.

The financial terms of the deal were not disclosed.

The acquired company is now known as Doo Wealth Management HK.

It is an insurance broker company listed on the register of licensed insurance intermediaries regulated by the Hong Kong Insurance Authority (IA).

Under the licence, Doo Wealth Management HK is authorised to conduct general and long-term business in the Hong Kong region.

‘Great stride’

Doo Financial said in a statement: “From life protection to personal health, from financial planning to wealth accumulation, Doo Wealth strives to build a healthier community for our clients and their loved ones with comprehensive protections, to ensure their peace of mind. Our goal is to make a positive impact on society.

“Accordingly, our professional teams will be providing a broad range of products and services covering two major areas, life insurance and general insurance.

“This strategic business partnership has proven Doo Group’s strength in seizing the global financial market, offering comprehensive and diversified services and products to our clients worldwide.

“It is our great stride in creating a more diverse future which also officially marks our new journey in the insurance industry. With the vision to achieve financial services diversity, Doo Group aspires to continuously expand our global growth into new markets to deliver the best services to our valued clients.”

Part of the Mark Allen Group.