China Life To Buy Prudential's Taiwan Insurance Biz

By Morgan Bettex

Law360, New York (February 20, 2009, 12:00 AM ET) -- China Life Insurance Co. Ltd. has agreed to buy most of the Taiwan business of British insurance giant Prudential PLC and sell a 10 percent stake in itself in a deal that will help the U.K.'s second-largest insurer bolster its capital reserves.

In exchange for the transfer of 94 percent of Prudential's in-force liabilities in Taiwan and legacy interest rate guaranteed products, China Life will sell the U.K. firm roughly a 10 percent stake in its business through a share placement valued at $64 million, the...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles