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Great Eastern Life Assurance Co. Ltd, often known as Great Eastern Life or simply Great Eastern, is a Singaporean multinational insurance company and subsidiary of OCBC Bank operating in the Southeast Asia region. Founded in 1908 by Alfred Hewton Fair, it is the largest and oldest life insurance company in Singapore and Malaysia.
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The company then expanded into the Philippines in 2014 and Indonesia in 2015. Expanding into three more countries in 2016, [4] [8] that year FWD Group acquired Shenton Insurance in Singapore, [9] also purchasing a unit from Great Eastern Holdings Ltd. in Vietnam [8] for $35 million. [16] In late 2016, FWD agreed to buy AIG's Fuji Life Insurance ...
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In 2006, Cathay prevailed in a bidding war with United Commercial Bank to acquire Great Eastern Bank. Cathay also acquired New Asia Bank in 2006. [13] On March 31, 2006, Cathay announced plans to acquire a 20% stake in the First Bank, but the deal fell through because the companies failed to get approval from the Chinese government. [14]
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