Mirae Asset Life to complete integration with PCA Life by Q1

By a2016032

Published : May 26, 2017 - 17:05 Updated : May 26, 2017 - 17:05

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Mirae Asset Life Insurance Co. said Friday it will complete its integration with PCA Life Insurance Co., the local unit of Britain's largest insurer Prudential Plc., by the first quarter of next year.

The move came after Mirae Asset Life Insurance acquired PCA Life Insurance in an arrangement worth 170 billion won ($150 million).

(Yonhap)

Mirae Asset Life Insurance ruled out restructuring as it vowed to guarantee employment of all employees of PCA Life Insurance.

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)