IC approves Allianz’s PNB Life acquisition

Feb 16, 2016 9:29 pm

Munich-based Allianz SE has secured the Insurance Commission’s (IC) approval to take control of PNB Life Insurance, Inc.

Commissioner Emmanuel Dooc on Tuesday announced that Allianz’s bid to purchase 12,750 common shares of stock in the life insurance subsidiary of Philippine National Bank (PNB) had been green-lit by regulators.

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