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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 ]
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.
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]
The company was the first life insurance company in Korea to achieve KRW 100 Trillion Won in assets in 2006. [7] On May 12, 2010, Samsung Life Insurance went public and the shares went for 110,000 won, or $96/share in one of the largest initial offerings and a record for the country, raising $4.4 billion.
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.
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.
Hanwha Life Insurance's main products include Whole Life Insurance and Critical Illness Insurance, savings-type insurance, including Annuity, and others. Additionally, Hanwha Life Insurance serves individual asset management through trust commodities, retirement pensions, accident and health insurance, and group insurance to companie.
BNK Financial Group was established as BS Financial Group in 2011. Busan Bank, a regional lender, was integrated with its affiliates, including BS Securities, BS Capital and BS Credit Information under the new financial holding company. [2] In 2014, BS Financial Group acquired Kyongnam Bank from Woori Financial. [3]