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Singaporean insurer Aseana acquires Indonesian counterpart

Singapore-based insurer Aseana Insurance PTE Ltd. has acquired a majority stake in Indonesian insurer PT Asuransi Bina Dana Arta (ABDA) for $59.5 million, Asia Insurance Review reported. Aseana now owns over 87% of all the issued shares of ABDA after acquiring 62% shares owned by Mapfre Internacional, as part of its recent transaction.

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