Sale of UOB Life

Someone asked what will happen to their single premium endowment taken with UOB Life, it the company is sold to a new buyer (as reported in the newspapers).

There is no need to worry. The new company will take over the full liability. It also has to meet the risk based capital requirement, so there is adequate capital to back the liability.

This is just speculation at this time. UOB may not sell its subsidiary. Or there may be no buyer.