The SY-LED banking arm BDO Unibank Inc. has claimed full ownership of insurance group Generali Pilipinas in a bid to solidify its presence in the middle income life insurance market.
The bank said it has terminated a joint venture with Generali Pilipinas Holdings Company Inc. (GPHC) and subsidiaries Generali Pilipinas Life Assurance Company (GPLAC) and Generali Pilipinas Insurance Company (GPIC) to give way to a full ownership of the insurance group.
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