Generali buys out Kuok in Asia venture

MANILA, Philippines - The Generali Group of Italy has bought out the remaining minority stake of Kuok Group in Generali Asia, which operates in Thailand, Indonesia and the Philippines. Generali Asia was established in 1999 as a regional partnership between Generali Group and Kuok Group, one of the leading Asian conglomerates. In Indonesia, Generali Asia operates in the life segment through a multi-channel distribution strategy. In the Philippines, it operates in the life segments primarily through bancassurance partnership with BDO Unibank Inc. In Thailand, it operates in the life and non-life segments through in the direct and broker channels. Outside of Generali Asia, it also operates in China, Hong Kong, India, Japan, and Vietnam.