Prudential Financial enters Indonesia life insurance market
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New York
US-BASED Prudential Financial Inc (PFI) has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday.
Prudential's Pruco Life Insurance Company unit has acquired a 49 per cent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia-based CT Corp, the companies said. Financial terms were not disclosed.
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