By Yvonne Lau | Insurance Asia News | March 30, 2020
A stake in Asuransi BRI Life, the life unit of Indonesia’s Bank Rakyat Indonesia (Persero), will be up for sale again in a deal that could yield US$500 million, according to a report by Bloomberg.
By Han Woo-ram and Cho Jeehyun | Pulse | March 25, 2020
Korea’s KB Financial Group has gained a lead in the horserace over mid-sized insurer Prudential Life Insurance Co. upon reportedly handing the highest bid of 2.2 trillion won ($1.8 billion).
Read More »KB Financial likely to win over Prudential Life after offering $1.8 bn
By Pat Sweet | Accountancy Daily | March 19, 2020
The International Accounting Standards Board (IASB) has announced a further one-year deferment of the implementation date for IFRS 17 Insurance Contracts, so the effective date for the standard will now be 2023
The board has also decided to extend the exemption currently in place for some insurers regarding the application of IFRS 9 Financial Instruments to enable them to implement both IFRS 9 and IFRS 17 at the same time.Read More »Additional postponement for IFRS 17 insurance contracts
By Luke Gallin | Reinsurance News | March 17, 2020
The International Accounting Standards Board (IASB) has voted to defer the effective date of IFRS 17 insurance contracts to January 1st, 2023.Read More »Industry players welcome IFRS 17 effective date deferral
By Lee Seung-hoon, Kang Woo-seok and Lee Ha-yeon | Pulse | March 11, 2020
Woori Financial Group and MBK Partners are in discussion to jointly bid for midsized insurer Prudential Life Insurance Co. in a $2 billion deal and pose a formidable contender to sole plausible candidate KB Financial Group.
Read More »Woori Financial in talks with MBK Partners to jointly bid for Prudential Life
By Park Jae-hyuk | Korea Times | March 1, 2020
MBK Partners, Hahn & Company and IMM Private Equity are facing another stumbling block to their ongoing bids to take over Prudential Life Insurance Company of Korea.