Hanwha Life Insurance Co., Ltd. completed the acquisition of People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun.
January 30, 2023
Share
Hanwha Life Insurance Co., Ltd. (KOSE:A088350) signed a stock purchase agreement to acquire People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun on September 29, 2022. Coston Asia, a financial investor owns 32.2%, Hak-Jin Hyun, the founder and founder of Samsung Life Insurance, and related parties owns 62.9% and Fubon Hyundai Life Insurance owns 4.9% in People Life. People Life has sales of KRW 303.1 billion and operating profit of KRW 12.1 billion last year.
Hanwha Life Insurance Co., Ltd. (KOSE:A088350) completed the acquisition of People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun in January, 2023.
Hanwha Life Insurance Co Ltd is a Korea-based company engaged in life insurance business. The Company provides pure endowment, including annuity insurance, savings insurance, and juvenile insurance; insurance against death, including term insurance and whole life insurance; and mixed insurance including endowment insurance. Group insurance sells group endowment insurance, group annuity insurance, and group term life insurance for groups. The Company is also engaged in special account management. The Company operates its businesses in domestic and overseas markets such as Vietnam and Indonesia.
Hanwha Life Insurance Co., Ltd. completed the acquisition of People Life Co., Ltd. from Fubon Hyundai Life Insurance Co., Ltd, Coston Asia and Hak-Jin Hyun.