Search results for AXA General Insurance
Finance
Financial groups\' M&A race heats up again as insurers are bought in succession
Mergers and acquisitions of insurers by South Korea’s financial groups are picking up again, with Korea Investment Financial Holdings securing preferred bidder status for KDB Life and OK Financial Group proceeding with steps to buy Yebyeol General Insurance. Kyobo Life is pursuing AXA General Insurance, while Shinhan Financial Group is again being mentioned as a possible buyer for Lotte Insurance, which is preparing for sale. Groups are seeking either new entry into insurance or reinforcement of weaker segments.
Telecommunications & Media
Autonomous driving market grows as shared e-bike big deal collapses
A planned merger in South Korea’s shared electric bicycle market has collapsed, scrapping a deal that could have produced a dominant operator. Socar’s sale of its Elecle e-bike unit to Kakao Mobility, operator of T Bike, was recently called off after final talks. Mobility platforms are also pushing into lifestyle services such as tire discounts and insurance. The article also highlights developments in Tesla, China’s autonomous driving market, Rivian, robotaxis and EV motorsports.
Mobility
Socar, AXA General Insurance to sell insurance in app, develop data-based products
South Korean car-sharing platform Socar said on Monday it signed a strategic memorandum of understanding with AXA General Insurance to develop data-based insurance products and cooperate on new business. Socar plans to sell AXA driver and travel insurance directly within the Socar app, allowing users to handle reservations and insurance sign-ups in one place. The companies will also study tailored insurance using driving data and safety scores and develop new insurance models for an autonomous-driving era.
