Global Insurers Battle for Leg Up in Asia Market

Hong Kong-listed AIA Group Ltd. paid about 2.3 times book value for ING Group NV's Malaysia business, while Prudential PLC acquired Thailand's Thanachart Life Assurance Co. for around 4.7 times and Japan's Mitsui Sumitomo Insurance Co. paid about 5 times book value for a 50% stake in...

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Bibliographic Details
Published in:The Wall Street journal. Eastern edition 2013-01-17
Main Author: Tudor, Alison
Format: Newspaper Article
Language:English
Subjects:
Acquisitions & mergers
Banking industry
Book value
Demutualization
Insurance companies
Online Access:Get full text
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Summary:Hong Kong-listed AIA Group Ltd. paid about 2.3 times book value for ING Group NV's Malaysia business, while Prudential PLC acquired Thailand's Thanachart Life Assurance Co. for around 4.7 times and Japan's Mitsui Sumitomo Insurance Co. paid about 5 times book value for a 50% stake in the life insurance unit of Indonesian conglomerate Sinar Mas.
ISSN:2574-9579