Philippines: PNB sells 51% stake in life insurance unit to Germany's Allianz

Philippines: PNB sells 51% stake in life insurance unit to Germany's Allianz

Visual from the company's website.

The Philippine National Bank  (PNB) sold on Monday its 51 per cent stake in its life insurance subsidiary PNB Life Insurance Inc (PNB Life) to German-based financial services firm Allianz,that led to the creation of a joint venture company ― the Allianz PNB Life Insurance Inc.

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