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KDB halts KDB Life sale process to take full control

    The state-run bank will focus on bolstering KDB Life’s financial health before searching for a new buyer

    By Jong-Kwan Park | The Korea Economic Daily| March 27, 2024

    The state-run Korea Development Bank (KDB) has suspended the protracted sale process of KDB Life Insurance Co. to take full control of the insurer before putting it back on the market at a higher valuation, according to people with knowledge of the matter on Wednesday.Read More »KDB halts KDB Life sale process to take full control

    KIDI to build insurance infrastructure in Vietnam

      It will provide training in the fields of underwriting and actuarial science to the VIDI and support the insurance DB

      By Mi-Hyun Jo | The Korea Economic Daily | March 22, 2024

      The Korea Insurance Development Institute (KIDI) announced on Friday that it signed a business agreement with the Vietnam Insurance Development Institute (VIDI) to support the establishment of insurance infrastructure in Vietnam.Read More »KIDI to build insurance infrastructure in Vietnam

      Philippine insurance industry to adopt new reporting standard for enhanced transparency

        Regulator unveils plans regarding new standard

        By Roxanne Libatique | Insurance Business Magazine | March 16, 2024

        The Insurance Commission (IC) of the Philippines has issued a directive to insurance companies, mandating the adoption of a new accounting standard aimed at enhancing the transparency and international comparability of financial reports.Read More »Philippine insurance industry to adopt new reporting standard for enhanced transparency

        Will M&A market for insurance companies revive this year?

          Sale of Lotte Insurance to test market sentiment

          By Anna J. Park | The Korea Times | February 16, 2024

          Market attention is now on whether the insurance M&A market could be able to reverse its frozen atmosphere in this year. While some market watchers expect M&A activities in the insurance sector to be revitalized as uncertainties are resolved over the application of the new IFRS 17 global accounting standards, concerns still linger regarding the long-term forecast for the domestic insurance industry, according to industry officials, Friday.Read More »Will M&A market for insurance companies revive this year?