US insurer MassMutual completes sale of Asia unit to Yunfeng, others

Jack Ma. Photographer: Jason Alden/Bloomberg

US-based life insurance major MassMutual International LLC (MassMutual International) has announced the completion of sale of its Asia business unit, MassMutual Asia, to Yunfeng Financial Group, backed by Alibaba founder Jack Ma, and other regional investors, in a cash-cum-stock deal, according to a company statement.

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