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Report: US life insurance company MetLife to quit Taiwan
Apr 14, 2010, 8:34 GMT
Taipei - US life insurance company MetLife Inc plans to sell its Taiwan business to Waterland Financial Holdings, a newspaper said Wednesday.
The Economic Daily News, quoting an unnamed source, said MetLife has agreed to sell its Taiwan business to Waterland, a small financial firm, for 3.6 billion Taiwan dollars (113 million US dollars).
The two firms are to sign the deal on Monday, the report said.
MetLife Taiwan refused to comment on the report.
'We have not been told about it,' a MetLife press officer, who only gave her surname, Dai, told the German Press Agency dpa.
MetLife, the largest US life insurer, has 400,000 clients on the island.
If MetLife leaves Taiwan, it will be the third foreign insurer to quit Taiwan in recent months after American International Group Inc (AIG) and ING Group.
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