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Friday, May 09, 2003|
Zurich Sells Another Fund Business
Zurich Financial is selling its Taiwanese fund portfolio to Taiwan Life Insurance. The four mutual funds hold some $51 million of assets, according to a Dow Jones Newswires report. Terms and pricing of the transaction were not disclosed.
Zurich officials said the sale was made as part of the companies plans to focus on its core insurance business.
Zurich sold its Zurich Scudder U.S. fund business to Germany's Deutsche Bank in 2001.
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