Menu

Reinsurance News

Prudential Financial sells Taiwan business to Taishin Financial

2nd July 2021 - Author: Matt Sheehan

US insurance and investment firm Prudential Financial has completed the sale of its Taiwan based life insurance business to Taishin Financial Holding Co., Ltd., following a successful regulatory review.

prudential

The sale of Prudential Life Insurance Company of Taiwan Inc was first announced back in August 2020, and saw the locally based Taishin Financial agree to take on 100% of the business.

Established in 1989, Prudential of Taiwan sells individual whole life and other protection products to middle market and affluent consumers through life planners who provide customized plans.

Going forward, PGIM, the asset management business of Prudential Financial, Inc., will remain active in the asset management industry in Taiwan through PGIM SITE.

Prudential Financial explained that the sale was consistent with its strategic focus internationally on Japan and higher-growth emerging markets around the world.

RMS

Last year, the company also announced plans to sell its Korean life insurance business to financial services provider KB Financial Group (KB) for a cash consideration of 2.3 trillion Korean Won, or US $1.9 billion.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Vantage CEO Hendrick to serve as interim Head of Insurance as Kuhn departs

Vantage Risk Ltd., the recently launched Bermudian reinsurer, has announced that Jack Kuhn, Chief Executive Officer (CEO) of its insurance...

Close