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Shinhan Financial Group Co., Ltd. (Korean: 주식회사 신한금융지주회사; RR: Jusik Hoesa Sinhan Geumyung Jiju Hoesa) is a financial holding company headquartered in Seoul, South Korea. [1] Its subsidiaries provide a full range of financial services, including banking , securities , life insurance , and investment banking .
Ankuk Fire & Marine Insurance Co., Ltd. was founded in June 1956 by large shareholders of Josun Life Insurance, the first insurer in Korea. Considering adverse conditions of insurance business back then, Ankuk Fire & Marine Insurance appointed media mogul Jang Gi-young, who was the owner of the Hankuk Ilbo Daily and served as the Deputy Governor of the Bank of Korea.
Additionally, Hanwha Life Insurance serves individual asset management through trust commodities, retirement pensions, accident and health insurance, and group insurance to companie. Hanwha Life Insurance has sales channels including individual agents, Bancassurance through agencies of banks, and an internet sales channel, Onsure. [1]
Hyundai Group acquired Dongbang in 1983 and changed its name to Hyundai Marine & Fire Insurance in 1985. [2] However, due to Hyundai's break up caused by a feud between the group founder Chung Ju-yung's sons, Hyundai Insurance was split from the original Group in 1999. Chung Mong-yoon, the founder's seventh son, took control of the company. [3] [4]
Meritz Financial Group Inc. (Korean: 주식회사 메리츠금융지주) is a financial holding company headquartered in Seoul, South Korea. Meritz Financial, with its major subsidiaries including Meritz Fire & Marine Insurance and Meritz Securities, is one of the major financial groups in South Korea.
In 2015, KB acquired LIG Insurance, South Korea's fourth-largest non-life insurance company with assets totaling 24 trillion won, from LIG Group and changed its name to KB Insurance. [ 5 ] [ 6 ] KB also took over Hyundai Securities from Hyundai Group after beating Korea Investment and Hong Kong–based private equity firm Actis in 2016. [ 7 ]
DB Insurance, which was launched as Korea's first public auto insurance company in 1962, became a member of Dongbu Group in 1983 and changed its name to Dongbu Insurance in October 1995. [ citation needed ] On November 1, 2017, the company changed its name to DB Insurance in order to become a global insurance finance company.
Hanwha Group (Korean: 한화그룹; Hanja: 韓火그룹; RR: Hanhwa Geurup) is a large business conglomerate in South Korea. [2] Founded in 1952 as Korea Explosives Co. (한국화약주식회사; 韓國火藥株式會社), the group has grown into a large multi-profile business conglomerate, with diversified holdings stretching from explosives—their original business—to energy, materials ...