After 6 years, another insurance company has emerged to acquire a major competitor.

The disclosure of information from the Hong Kong Stock Exchange shows that China Ping An Insurance Group has recently increased its holding of approximately 1.74 million H shares of China Pacific Insurance Group. After the increase, China Ping An's holding of H shares of China Pacific Insurance Group accounts for approximately 5.04% of its total H share capital, triggering a mandatory takeover bid according to Hong Kong market rules. Ping An's takeover bid for China Pacific H shares also marks the reemergence of insurance companies taking stakes in their peers after a 6-year hiatus. Industry insiders believe that on one hand, insurance companies taking stakes in their peers reflects optimism about the industry's development; on the other hand, there are also financial considerations behind insurance companies taking stakes.