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                    [ArticleID] => 173259
                    [Title] => Allied Bank to acquire minority stake in foreign insurance firm
                    [Summary] => Allied Bank is reportedly holding exploratory talks for the acquisition of minority stake in a foreign life insurance company.


The commercial bank, which is controlled by taipan Lucio Tan, is said to be holding exploratory talks with New York Life Insurance Phils. Inc. (New York Life), a new player in the country’s insurance industry.


Allied Bank is reportedly planning to buy at least five percent of New York Life’s equity, which would thus classify the life insurer as an "affiliate" of the bank.


                    [DatePublished] => 2002-08-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
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NEW YORK LIFE INSURANCE PHILS

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                    [ArticleID] => 173259
                    [Title] => Allied Bank to acquire minority stake in foreign insurance firm
                    [Summary] => Allied Bank is reportedly holding exploratory talks for the acquisition of minority stake in a foreign life insurance company.


The commercial bank, which is controlled by taipan Lucio Tan, is said to be holding exploratory talks with New York Life Insurance Phils. Inc. (New York Life), a new player in the country’s insurance industry.


Allied Bank is reportedly planning to buy at least five percent of New York Life’s equity, which would thus classify the life insurer as an "affiliate" of the bank.


                    [DatePublished] => 2002-08-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
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abtest

Allied Bank to acquire minority stake in foreign insurance firm

By Ted P. Torres | August 24, 2002 - 12:00am

Allied Bank is reportedly holding exploratory talks for the acquisition of minority stake in a foreign life insurance company. The commercial bank, which is controlled by taipan Lucio Tan, is said to be holding...

Business