July 5, 2017 / 9:02 AM / 16 days ago

S.Korea's Mirae invests $48.4 mln in Vietnamese insurance firm

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HANOI, July 5 (Reuters) - South Korea's Mirae Asset Life Insurance Co. will invest 1.1 trillion dong ($48.4 million) of fresh capital in Prevoir Vietnam Life Insurance, the deal's financial advisor, Nomura, said in an email sent to Reuters on Wednesday.

Mirae Asset will hold 50 percent ownership interest post capital contribution while the remaining 50 percent will be held by Scor Global Life and Prevoir's French parent Prevoir Vie.

"This will be the most important task in the near future to integrate the advantages of the two groups," said Jae Sik Kim, General Director of Mirae Asset, in a press release.

Mirae Asset is South Korea's fifth largest life insurance firm by assets. This is the firm's first life insurance investment in Vietnam. ($1=22,739 dong) (Reporting by My Pham; Editing by Sunil Nair)

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