Allianz to sell SKorea insurer stake to partner

Seoul, May 24: Germany's Allianz, Europe's biggest insurer, has agreed to sell all of its 50 percent stake in a South Korean joint-venture insurance firm to the partner, Hana Financial Group, Hana said on Thursday.

Hana Financial, South Korea's fourth-largest financial services firm, said in a statement it would eventually own the whole of unlisted Hana Life Insurance Co. It did not disclose the financial value of the deal.

Reuters>