MetLife Combines Life Joint Ventures in China as It Seeks Further Asia-Pacific ... Insurance News Net (press release)
While U.S.-based MetLife Inc. [058175] pursues its acquisition of American Life Insurance Co. [006081] from American International Group Inc. [058702], its Chinese team has been conducting an ongoing business integration of its two domestic life insurance joint ventures, aiming to accelerate domestic market growth and create a stronger brand.
"MetLife is always reviewing opportunities for growth and expansion through mergers and acquisitions. China is one of the most important strategic markets for MetLife, and we are open to all opportunities to grow our business in China, but do not have any plans at this time for listing in the Chinese market," Brad Bodell, vice president of MetLife International, told BestWeek Asia/Pacific.
"Our two JVs in China -- Sino-U.S. MetLife and United MetLife -- are growth operations for MetLife," said Bodell. "We are optimistic and confident about the growth prospects of the Chinese insurance market though we do not provide growth projections for
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MSN Money UKHe further stated that Prudential remained committed to its remaining insurance business in Taiwan. Prudential retains a presence in the country through its unit PCA Life Assurance Company which distributes insurance through Standard Life and E.Sun.”UK's Prudential boosts capital with Taiwanese sale
