South Korea's financial authorities said Thursday they have approved Mirae Asset Life Insurance Co.'s acquisition of PCA Life Insurance Co., the local unit of Britain's largest insurer Prudential Plc.
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(Yonhap) |
The Financial Services Commission said it had approved the deal worth 170 billion won ($150 million) on Tuesday.
The takeover will make Mirae Asset Life Insurance the fifth-largest life insurer with assets of 33.41 trillion won in the domestic insurance market. (Yonhap)
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