On 3rd July 2017 in Hanoi, Prévoir Vietnam and Mirae Asset Life Insurance today have reached an agreement for a contribution of VND1.1tn (c.50m) of new capital to Prévoir Vietnam. Upon the completion of the capital increase, Mirae Asset Life Insurance will become a member of the Company and hold a 50% ownership interest in Prévoir Vietnam, with current members Prévoir Vie and SCOR Global Life holding the remaining 50% ownership interest.
The partnership with Mirae Asset Life Insurance brings a strategic partner with strong technological and operational expertise in the life insurance space, which will enhance Prévoir Vietnam’s services and product offerings to existing and new customers and drive further growth in Vietnam.
The transaction is subject to customary closing conditions including regulatory approvals in Vietnam and South Korea.
Nomura International (Hong Kong) Limited has acted as Sole Finance Advisor to Prévoir Vietnam.
Information about Prévoir Vietnam:
Prévoir Vietnam is a member’s company of Prévoir Vie which is one of the long-standing groups of finance and life insurance, being enriched by a history of over 100-year experience in France, a leading Life, Health and Retirement Company and particularly a professional insurance company which provides solutions, bancassurance for clients.
Information about Mirae Asset Life Insurance:
Mirae Asset Life Insurance is the 5th largest life insurance provider in Korea following its merger with PCA Life Insurance in 2016. Mirae Asset Life has been listed on the Korea Stock Exchange Market since 2015 and the total asset size of Mirae Asset Life Insurance is KRW 28,429 bn as of Q1 2017.
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