Slaughter and May, Hong Kong, advised Prudential plc (Prudential) on the sale of its life insurance subsidiary in Korea, PCA Life Insurance Co., Ltd, to Mirae Asset Life Insurance Co., Ltd. (Mirae), for a total consideration of KRW170 billion. The transaction was announced on 10 November 2016 and is subject to regulatory approval.

Prudential and its affiliated companies constitute one of the world’s leading financial services groups. Mirae is the sixth largest life insurance company in Korea with over KRW 28 trillion in total assets.

Contacts

Corporate and Commercial: David Watkins (partner), Ben Heron (associate)