The Securities and Exchange Commission (SEC) has formally approved the merger of AXA Philippines and its former general insurance subsidiary Charter Ping An Insurance Corp.
"The approved merger is the final step in the years-long process that began when AXA acquired Charter Ping An in 2016 as it now becomes one of the first big local insurance companies to offer both life and non-life insurance under a single brand," said GT Capital Holding Inc., one of the joint venture partners behind AXA Philippines, in a statement.
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