Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Life Insurance

Manulife Buying Out Partner In Vietnam

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Jan. 2, 12:04 p.m. – Manulife Financial Corp., Toronto, says it has agreed to buy a 40% stake in Chinfon Manulife Company Ltd., Ho Chi Minh City, Vietnam, from Chinfon Global Corp., Taipei, Taiwan.

Manulife, which already owns the rest of the Ho Chi Minh life insurance company, plans to rename it Manulife (Vietnam) Ltd.

The price of the deal was not disclosed.

Manulife and Chinfon formed Chinfon Manulife in 1999. The joint venture now has 180 employees, a network of 4,600 sales representatives, and 100,000 customers. Sales reached $12 million for the third quarter of 2001, up 250% from sales for the third quarter of 2000, according to Manulife.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.