By Gabriel Budi Sutrisno | TechinAsia | November 3, 2023
Shinhan EZ General Insurance, a subsidiary of South Korean conglomerate Shinhan Financial Group, has entered the Indonesian market through a tie-up with PasarPolis‘ insurance sales platform Tap Insure.Read More »South Korea’s Shinhan taps PasarPolis to enter Indonesian market
By Lee Yeon-woo | The Korea Times | October 19, 2023
Hana Financial Group has announced its decision to withdraw from the acquisition of KDB Life Insurance. This marks the fifth time that the insurance subsidiary of the Korea Development Bank (KDB) has failed to secure a new owner.Read More »KDB Life fails to find new owner for fifth time as Hana withdraws
Insurers have high hopes based on enhanced performance metrics
By Lee Yeon-woo | The Korea Times | September 22, 2023
While major insurance firms are queued up for sale, financial holding companies are exercising caution in proceeding with acquisition deals. This contrasts with earlier market expectations that they would actively pursue acquisitions to expand their non-banking business portfolios.Read More »Big insurers up for sale, but financial conglomerates appear disinterested
Two names stand out as frontrunners for the purchase
By Kenneth Araullo | Insurance Business | August 31, 2023
The Korea Deposit Insurance Corporation (KDIC) has officially initiated the M&A bidding process for MG Non-Life Insurance.Read More »M&A bidding for Korean nonlife insurer kicks off
Litigation risks remain
By Anna J. Park | The Korea Times | August 29, 2023
The Korea Deposit Insurance Corporation (KDIC) has officially kicked off the M&A bidding process for MG Non-Life Insurance this week. Samjeong KPMG, the lead sale manager of the deal, plans to receive Letter of Intent (LOI) submissions by potential buyers by Oct. 5 in order to select preliminary bidders.Read More »KDIC resumes M&A process of MG Non-Life Insurance
Litigation risks remain
By Anna J. Park | The Korea Times | August 29, 2023
The Korea Deposit Insurance Corporation (KDIC) has officially kicked off the M&A bidding process for MG Non-Life Insurance this week. Samjeong KPMG, the lead sale manager of the deal, plans to receive Letter of Intent (LOI) submissions by potential buyers by Oct. 5 in order to select preliminary bidders.Read More »KDIC resumes M&A process of MG Non-Life Insurance
Industry sources said that information memoranda will be sent to potential buyers later this month
By Kenneth Araullo | Insurance Business | August 16, 2023
Major Korean insurers and two Japanese life insurers are among the bidders looking to purchase Tokio Marine’s billion-dollar businesses in Southeast Asia, according to industry sources.Read More »Korean firms, JP life insurers among bidders for Tokio Marine’s Southeast businesses
Hanwha Life Insurance emerges as a strong candidate for the acquisition as aims to actively expand its businesses overseas
By Seok-Cheol Choi and Jun-Ho Cha | The Korea Economic Daily | August 14, 2023
Japanese insurer Tokio Marine Holdings Inc. is seeking to sell its units in Southeast Asia for $1 billion to major South Korean companies looking for future growth engines in other countries amid the stagnant local market due to the aging population and falling birthrate.Read More »Tokio Marine seeks to sell SE Asia units to S.Korean companies
M&A market for insurance companies to expand in H2
By Anna J. Park | The Korea Times | August 7, 2023
Aiming to expand their non-banking business portfolios, major financial firms, including local financial groups, are closely examining whether to add new insurance subsidiaries, as two insurers ― KDB Life Insurance and ABL Life ― are currently looking for new owners.Read More »Financial giants mull acquiring KDB Life, ABL Life to beef up non-banking revenues
By Lee Yeon-woo | The Korea Times | July 9, 2023
Hana Financial Group has entered the fray to acquire KDB Life, the insurance arm of the Korean Development Bank (KDB).Read More »Hana Financial Group joins bid to acquire KDB Life