Prudential, Allstate sign pact<\/p>\n
JAKARTA (JP): British insurance firm Prudential Plc. has
\nsigned an agreement to buy the holdings of American insurance
\nfirm Allstate in PT Asuransi Jiwa Allstate.<\/p>\n
The deal is subject to the approval of regulatory authorities
\nand is expected to be completed in the second quarter of this
\nyear, according to a joint statement issued by the companies.<\/p>\n
"This is a great opportunity for both Allstate and
\nPrudential ... as combining the business will provide a much
\nstronger platform to continue building top quality operations in
\nthe important Indonesia and Philippine markets," Dan Bardin, the
\nmanaging director South Asia of the Prudential Corporation Asia
\nwas quoted as saying.<\/p>\n
The companies did not provide details on the amount of
\nAllstate's holdings bought by Prudential.<\/p>\n
Prudential has also agreed to buy Allstate's holdings in
\nAllstate Life Insurance Company in the Philippines. (03)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/prudential-allstate-sign-pact-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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