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November 4, 2003 |  |
Zurich Financial Services sells businesses in the Philippines and enters cooperation agreement for the International Program Business
Zurich - Zurich Financial Services Group (Zurich) has signed an agreement for the sale of the insurance portfolio of its subsidiary Zurich Life Philippines, Inc. to The Manufacturers Life Insurance Company (Phils.), Inc. (Manulife). This transaction, for which terms and conditions have not been disclosed, requires the approval of local regulatory authorities.
The decision to exit these businesses in the Philippines is in line with Zurich’s strategy, to allocate capital to core markets in order to generate sustained profitable growth. |
