DEL Rosario-led Phinma Corp. said on Friday that it had completed the acquisition of its insurance brokerage arm, Phinma Insurance Brokers Inc. (PIBI), from ultimate parent Phinma Inc. for P150.53 million.
DEL Rosario-led Phinma Corp. said on Friday that it had completed the acquisition of its insurance brokerage arm, Phinma Insurance Brokers Inc. , from ultimate parent Phinma Inc. for P150.53 million.The company told the stock exchange that the deal, completed on Thursday, was 'for a total transaction amount of P150.53 million for 2.3 million shares representing 100 percent ownership of the company.'Last Nov. 7, 2024, Phinma Corp. disclosed board approval of the acquisition.
'PIBI is the insurance brokerage arm of Phinma, involved in developing, packaging and servicing life, non-life and HMO insurance programs while dealing with reputable local and global insurance companies to answer its clients' various requirements,' it said.Phinma Inc., the ultimate parent firm of Phinma Corp.
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