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Korean firms, JP life insurers among bidders for Tokio Marine’s Southeast businesses

    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

    Tokio Marine seeks to sell SE Asia units to S.Korean companies

      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

      Financial giants mull acquiring KDB Life, ABL Life to beef up non-banking revenues

        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

        Authorities Present IFRS 17 Guidelines to Prevent Insurance Companies from Inflating CSM

          By Jasmine Choi | Business Korea | June 1, 2023

          With the introduction of the new International Financial Reporting Standard 17 (IFRS 17), financial authorities have prepared guidelines to prevent insurance companies from inflating Contractual Service Margins (CSM) through arbitrary and optimistic actuarial assumptions.Read More »Authorities Present IFRS 17 Guidelines to Prevent Insurance Companies from Inflating CSM

          Korea Development Bank makes fifth attempt to sell life insurance unit

            By Park Chang-young and Minu Kim | Pulse News | May 26, 2023

            Korea Development Bank (KDB) has put KDB Life Insurance Co. up for sale once again, with several private equity funds submitting letters of intent (LOIs) for the deal, after failing four times in the past without success as life insurance business has become less attractive due to an aging population.Read More »Korea Development Bank makes fifth attempt to sell life insurance unit