UPDATE 1-Manulife, DBS in $1.2 bln insurance deal for Asia

April 8, 2015 10:41 AM

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* Existing partner Aviva as well as AIA, Pru competed for deal (Adds detail from official announcement, background)

HONG KONG/SINGAPORE, April 8 (Reuters) - Canadian insurer Manulife Financial Corp is paying $1.2 billion to Singapore's DBS Group Holdings Ltd for a 15-year partnership that will allow the insurer to sell products through the lender's Asian branch network.

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