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Great Eastern sells Vietnam business for S$48.2m

OCBC unit wants to focus more on core markets, including Singapore; buyer is Pacific Century Group's FWD

Published Tue, Jun 7, 2016 · 09:50 PM

Singapore

GREAT Eastern Holdings (GEH), the insurance arm of Oversea-Chinese Banking Corporation (OCBC), has sold its Vietnam business for S$48.2 million to a company linked to Pacific Century Group.

The buyer of Great Eastern Life (Vietnam) is FWD Life Insurance Company (Bermuda), which is part of FWD Group, the insurance business arm of Pacific Century Group.

All relevant regulatory approvals for the divestment …