Dongbu Insurance acquires stake in Chinese firm

GMT 22:59 2014 Saturday ,21 June

Arab Today, arab today Dongbu Insurance acquires stake in Chinese firm

Dongbu Insurance Co
Seoul - Yonhap

South Korea's non-life insurer Dongbu Insurance Co. acquired a stake in a Chinese non-life insurance firm, the company said Sunday, following the industry's strategy of looking overseas to overcome the already saturated domestic market.
Dongbu Insurance said it has received approval from the financial authorities of South Korea and China to acquire a 15 percent stake in Ancheng Property & Casualty Insurance Co., becoming the third-biggest shareholder of the Chongqing-based firm.


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