Spanish based insurer Mapfre has completed its evacuation from the Indonesian market, dumping its majority stakes in two local units.
In the transaction pre-announced in March, Mapfre is selling its 62% stake in non-life insurer Asuransi ABDA and its 51% stake in assistance and services unit ABDA Assistance.
Mapfre will sweep in $62.9 million in the deal and book a profit of €8.4 million, management said in its market filing.
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.