BPI taps partner for Philamlife bid

MANILA, Philippines–The Ayalas’ Bank of the Philippine Islands plans to team up with British insurance giant Prudential Plc in its bid for the country’s biggest and most profitable insurance group Philippine American Life and General Insurance Co.

Inquirer sources from the financial community said BPI and Prudential were in talks to pool resources to vie for the remaining Philippines assets of beleaguered American International Group, which is paring down assets across the globe.

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