S.Korea's Mirae invests $48.4 mln in Vietnamese insurance firm

Mirae Asset Life Insurance

05/07/2017 10:01

HANOI, July 5 (Reuters) - South Korea's Mirae Asset Life 
Insurance Co.  085620.KS  will invest 1.1 trillion dong ($48.4 
million) of fresh capital in Prevoir Vietnam Life Insurance, the 
deal's financial advisor, Nomura, said in an email sent to 
Reuters on Wednesday. 
    Mirae Asset will hold 50 percent ownership interest post 
capital contribution while the remaining 50 percent will be held 
by Scor Global Life and Prevoir's French parent Prevoir Vie.   
    "This will be the most important task in the near future to 
integrate the advantages of the two groups," said Jae Sik Kim, 
General Director of Mirae Asset, in a press release.  
    Mirae Asset is South Korea's fifth largest life insurance 
firm by assets. This is the firm's first life insurance 
investment in Vietnam.  
 
($1=22,739 dong) 
 
 (Reporting by My Pham; Editing by Sunil Nair) 
 ((my.pham@thomsonreuters.com; +844 3825 9623; Reuters 
Messaging: my.pham.thomsonreuters.com@reuters.net)) 
 
Keywords: VIETNAM INSURANCE/DEALS