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Stephenson Harwood advises Townlife on acquisition of Hong Kong insurance brokerage licence
Law firm Stephenson Harwood has advised Townlife Holding Company Limited (‘Townlife’) on its acquisition of a Hong Kong insurance broker licence.
This deal enables Townlife to establish its own brokerage service team and offer diverse insurance products for household protection.
Townlife is 73% owned by The Hong Kong and China Gas Company Limited (‘Towngas’), with the remaining 27% owned by FSE Nova (China) Company Limited (‘FSE Nova’). Towngas is Hong Kong's first public utility company and one of the largest energy suppliers in Hong Kong. FSE Nova is a subsidiary of FSE Lifestyle Services Limited (‘FSE Lifestyle’), a leading Hong Kong lifestyle services conglomerate. Both Towngas and FSE Lifestyle are listed on the Hong Kong Stock Exchange.
Stephenson Harwood advised Towngas and FSE Nova on their investments in Townlife, as well as the implications arising from Hong Kong Listing Rules and the relevant insurance regulations.
Hong Kong Corporate Partner Danny Kan led the team, supported by Managing Associate David Chan and Associate Angela Ng.
