NU Online News Service, Oct. 28, 10:58 a.m. EDT
ACE Ltd. has agreed to pay about $425 million in cash for the New York Life Insurance Company life insurance businesses in Hong Kong and Korea.
ACE, Zurich (NYSE:ACE), already has property-casualty operations in north Asia, and it now wants to use the acquisition of the two businesses from New York Life, New York, to build life operations there, ACE said.
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Allison Bell
Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.
