ING exits Taiwan insurance market
The firm's life insurance business will be sold to Fubon Financial for $600 million, making Fubon the second largest life insurer on the island.
ING has called it quits from the life insurance business it runs in Taiwan. In better years, the insurance business was ranked the fourth largest by premium income on the island, and it had topped tables in the personal wealth management market with the brandÆs leading asset management arm, ING Investment Funds.Fubon Financial Holding, known to Taiwanese locals as one of the three largest landlords of Taipei, has agreed to acquire the life insurance arm from ING for a consideration of…
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