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Great Eastern divests Vietnam business for $48.2m

Singapore Business Review

It was sold to FWD Life insurance company.

The life insurance giant has completed the sale of its whole Vietnam business to focus more on its core markets Malaysia and Singapore.

According to a press release by Great Eastern, the divestment will be completed on 21 June this year.

The entirety of the business was sold to FWD Life insurance company Bermuda Ltd, which is a part of FWD group, the life insurance arm of Pacific Business Group, Great Eastern said.

Khor Hock Seng, group CEO of Great Eastern Holdings, said the company also aims to grow its business in Indonesia and in Brunei, its emerging turfs.

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