Great Eastern to acquire Indonesia insurance firm for US$28m
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Janice Heng
Singapore
GREAT Eastern Holdings is acquiring Indonesia-registered PT QBE General Insurance Indonesia for US$28 million (S$38.4 million), as part of its broader strategy of building its general insurance operations into a significant business pillar and deepening its footprint in Indonesia.
The group announced on Tuesday that its unit Great Eastern General Insurance Limited entered into a share purchase agreement on Dec 10 to fully acquire QBE Indonesia from QBE Asia Pacific Holdings Limited and QBE Insurance (International) Pty Limited.
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