Prudential Financial to sell Prudential of Taiwan

Newark-based Prudential Financial Inc. announced on Tuesday it has agreed to sell Prudential of Taiwan to a leading Taiwan-based financial institution.

Under the deal, Taishin Financial Holdings Co. Ltd. will purchase 100% of Prudential’s life insurance business in Taiwan.

Established in 1989, Prudential of Taiwan sells individual whole life and other protection products.

PGIM, the asset management business of Prudential Financial, will remain active in Taiwan’s asset management industry through PGIM SITE.