Monday, February 26, 2018

South Korea

Shares of Korean insurers trading below IPO prices

Shares of Korean insurers trading below IPO prices

Lower share prices reflect concerns about negative margins in the life insurance business, according to analysts.

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Allianz Life Korea to focus on wealthy seniors

Allianz Life Korea to focus on wealthy seniors

Munich-based global insurer aiming to become the No. 1 global insurer locally.

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Fubon Financial acquires Hyundai Life Insurance stake for US$199m

Fubon Financial acquires Hyundai Life Insurance stake for US$199m

Taiwanese financial services firm to acquire stake via its insurance unit, Fubon Life Insurance.

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South Korea offers MERS insurance for visitors

South Korea offers MERS insurance for visitors

Free coverage aimed at relieving concerns over the MERS outbreak in Korea.

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Anbang Insurance’s US$1bn acquisition of Tong Yang Life approved

Anbang Insurance’s US$1bn acquisition of Tong Yang Life approved

Approval issued despite concerns over reciprocity.

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Samsung Life Insurance eyes acquisition in the Philippines

Samsung Life Insurance eyes acquisition in the Philippines

Growing economy, low insurance penetration rate, and large population seen as factors.

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South Korea’s Mirae Asset Life eyes US$460m in IPO

South Korea’s Mirae Asset Life eyes US$460m in IPO

Mirae will sell 5.4 million existing shares and issue 40 million new shares for the IPO.

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South Korea to launch online insurance supermarket

South Korea to launch online insurance supermarket

Website will initially focus on car insurance, health cost coverage insurance and savings insurance.

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S Korea’s Dongbu Insurance enters market in Myanmar

S Korea’s Dongbu Insurance enters market in Myanmar

South Korean insurer to offer non-life insurance services with the opening of office in Yangon.

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Australia’s Honan Insurance acquires Singapore’s MACS

Australia’s Honan Insurance acquires Singapore’s MACS

General Insurance and Employee Benefits broker in South East Asia acquired for an undisclosed amount.

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10 South Korean life insurance firms offering poorly written contracts

10 South Korean life insurance firms offering poorly written contracts

Contracts assessed based on clarity, brevity and comprehensibility.

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Korea plans to allow insurers in combo stores

Korea plans to allow insurers in combo stores

Combo stores allowed to provide all types of financial products under the FSC plan.

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Korea moves to prevent state trade insurance fraud

Korea moves to prevent state trade insurance fraud

The move is aimed at preventing companies from securing trade insurance using false trade reports.

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Korea’s Mirae Asset Life Insurance to launch IPO

Korea’s Mirae Asset Life Insurance to launch IPO

Life Insurer looking to raise up to KRW500bn (US$459m) according to reports.

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South Korea’s insurance firms lead rise in debt holdings in 2014

South Korea’s insurance firms lead rise in debt holdings in 2014

Increase in debt holdings was attributed to the record fall of local yields.

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Nina Klingspor, Allianz Global Corporate & Specialty

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