The Pinoy life insurance firm increased its stake in MIIC to 40 percent.
InLife increased its stake in MIIC from 25 percent to 40 percent, while Oona will acquire the remaining 60 percent shares in the company.
The said buyout follows Mapfre Internacional SA of Spain’s previous decision to leave its business interests in Asia, including the Philippines.
The firm said it attracted a significant investor for itsnon-life businesses and the synergy will permit for its current and future distribution channels to boost and provide stronger and better general insurance products via technology.
