NEW YORK (
has sold its Taiwan life insurance unit to
Chinatrust Financial Holding Co.
for $180 million, according to the
Wall Street Journal
An earlier announced deal to sell the Taiwan unit to
Waterland Financial Holdings Co.
for $112.5 million was
that questioned Waterland's financial ability to operate the insurer.
Chinatrust had been seeking an acquisition to expand in Taiwan. The insurer made a big for
American International Group's
Taiwan Nan Shan Life Insurance Company
unit earlier this year
, but was bested by
Ruen Chen Investment Holding
, which acquired the unit for $2.15 billion
MetLife is among several U.S. insurers to exit the Taiwan life insurance market since the financial crisis. American International Group and
both exited the market last year.
--Written by Maria Woehr in New York.
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