Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month. Hanwha Life Insurance Co. has …
Park Chol-hee was working the holiday shift at Samsung Heavy Industries’ Geoje shipyard on Labour Day, 2017, when a giant crane collided with another and crashed to ground, killing six people, including Park’s younger brother. “It was as if a …
South Korea’s third-largest life insurer plans to boost overseas investments to almost a third of total assets, joining the growing ranks of investors that are taking more risks as bond yields decline. Kyobo Life Insurance Co. will raise its holdings …
Allianz Global Corporate & Specialty (AGCS), Allianz Group’s unit for corporate & specialty insurance business, has opened a branch office in South Korea to serve global corporate clients. AGCS said it has become the first foreign non-life insurer in almost …
Anbang Insurance Group Co., which walked away from a bid to acquire Starwood Hotels & Resorts Worldwide Inc. last week, has agreed to buy Allianz SE’s operations in South Korea. The Chinese insurer will purchase Allianz Life Insurance Korea and …
