Taishin Financial to acquire Prudential Taiwan for $187m

The country's financial regulator has yet to approve the deal.

Taiwan’s Taishin Financial will purchase Prudential Life Insurance Taiwan for $187m (NT$5.5b), the country’s Central News Agency reported.

Taishin president Welch Lin made the announcement in a press conference, saying that the acquisition still required the approval of the Financial Supervisory Commission.

The deal will help Taishin integrate its financial businesses and grant clients more service options, Lin said. It will also retail all Prudential Life employees.

For their part, Prudential said that the transaction is in line with their international focus on Japan and higher-growth emerging markets.

Photo courtesy fo Central News Agency.