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New York Life Sells Stake in Chinese Life Insurance Joint Venture

New York Life has entered into arrangements to sell its stake in its Shanghai-based joint venture, Haier New York Life Insurance Co. Ltd. Shanghai-based Haier New York Life Insurance had previously been a joint venture between New York Life Insurance and electrical appliance manufacturer, Haier Group, with each partner holding a 50 percent stake. The Haier New York Life Insurance company has a registered…

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New York Life Selling Two Asian Life Insurance Operations to ACE Group

New York Life Insurance Company has signed an agreement with ACE Group for the sale of two of New York Life's Asian life insurance operations for US$ 425 million. The deal will see ACE purchase two of New Your Life's wholly owned life insurance subsidiaries in Hong Kong and South Korea, where ACE Group already has property and casualty insurance operations. ACE Group will incorporate the newly purchased…

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