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Woori signs $1.16 bn deal to acquire Tongyang, ABL Life from China’s Dajia

    The acquisition is expected to bolster Woori’s non-banking sector via synergy with Woori Investment & Securities

    By Jun-Ho Cha | The Korea Economic Daily | August 28, 2024

    Woori Financial Group Inc., South Korea’s fourth-largest financial services provider, said on Wednesday it has signed a deal to acquire Tongyang Life Insurance Co. and ABL Life Insurance Co. from China’s Dajia Insurance Group Co. for 1.55 trillion won ($1.16 billion) to bolster its non-banking business.Read More »Woori signs $1.16 bn deal to acquire Tongyang, ABL Life from China’s Dajia

    Woori to buy Dajia’s insurers in Korea for up to $2.2 bn

      By Jun-Ho Cha, Seok-Cheol Choi and Jae-Won Park | The Korea Economic Daily | June 26,2024

      Woori to buy Tongyang, ABL, not to bid on Lotte Insurance, dampening other insurers’ hopes to sell their stakes to the group

      Woori Financial Group Inc., South Korea’s fourth-largest financial services holding company, is set to acquire China’s Dajia Insurance Group Co.’s insurers in Korea for up to an estimated $2.2 billion to strengthen its non-banking businesses.Read More »Woori to buy Dajia’s insurers in Korea for up to $2.2 bn

      Woori Financial joins bid for Lotte Insurance

        By Anna J. Park | The Korea Times | April 25, 2023

        Main bidding to take place as early as June

        Woori Financial Group has jumped into the bidding competition to acquire Lotte Insurance, industry sources said Thursday. Woori Financial is the only major domestic financial group that does not have an insurance affiliate, and the group has long outwardly spoken about its intention to strengthen its non-banking business through acquisitions.Read More »Woori Financial joins bid for Lotte Insurance