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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
September 21, 2001 at 08:00 PM
NU Online News Service, Sept. 21, 2:08 p.m. – Prudential Plc, London, has signed a memorandum of understanding to buy a 93.35% stake in Youngpoong Life Insurance Company, Seoul from Korea Zinc Company, Seoul, the parent of Youngpoong, according the online edition of Joong Ang Il Bo, a Korean daily.
Under the agreement, Prudential will buy the stake for $230 million, or 35 billion won, Joong Ang reports.
Youngpoong Life has $81 billion, or 106.6 billion won, in assets under management, says the paper. However, the insurance has a solvency margin ratio of 5,372.3%, the highest among Korean life insurers.
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