Korea Investment Holdings Considering Acquisition of Life Insurance Company

Korea Investment Holdings is prioritizing the review of life insurance companies with the goal of acquiring an insurance company within this year. While they are also looking at both life and non-life insurance companies, their recent focus has been on life insurance firms. They participated in the main bidding for KDB Life, and BNP Paribas Cardif Life is also mentioned as a strong candidate for acquisition. Lotte Non-Life Insurance and Yebyeol Non-Life Insurance are also under consideration. Korea Investment Holdings stated during its regular shareholders' meeting in March this year that it is reviewing several acquisition targets, including life and non-life insurance companies, with the aim of completing an acquisition by the end of the year. Korea Investment Securities filed a trademark for 'Korea Investment Life Insurance' in May last year. Life insurance is structured to be suitable for long-term asset management, and Korea Investment Holdings is planning to connect these funds to long-term credit assets. They are referencing the model of Apollo Global Management and view the acquisition of an insurance company not just as an addition to their affiliates but as a restructuring of their fund management system. According to Korea Credit Rating, about 60% of Korea Investment Securities' mismatched borrowings are in the form of issued notes with a maturity of less than one year, which can be complemented by the long-term funds of life insurance companies. Expanding the customer base has also been presented as a background for the acquisition review. The outcome of the KDB Life acquisition process may vary depending on the sale procedures of the Industrial Bank and the movements of other candidates.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.