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Finance
Shinhan Financial completes insurance puzzle with Lotte non-life deal but faces capital injection and profit recovery tasks
Shinhan Financial Group has completed the final piece of its insurance business by agreeing to buy Lotte Non-Life Insurance, but it now faces the task of improving profitability. Shinhan Financial signed an SPA to acquire 77.04% for 693.3 billion won, implying a company value of about 900 billion won. It plans to invest a total of 1.2 trillion won, including 300 billion won for capital strengthening, while analysts differ on the need for additional capital injections and the pace of profit recovery after integration.
Finance
Woori Financial to merge Dongyang Life and ABL Life, aiming to launch 55 trillion won insurer
Woori Financial Group has formalised plans to integrate Dongyang Life Insurance and ABL Life Insurance and is pursuing the launch of a combined life insurer with total assets of 55 trillion won in the second half of 2027. The group said it has begun full-scale integration work to strengthen competitiveness in its insurance business. The combined insurer will focus on managing its K-ICS solvency ratio and expanding its contract service margin.
Finance
Woori Financial first-half net profit 1.61 trillion won, non-bank contribution rises to 22.3%
Woori Financial Group posted first-half net profit attributable to owners of the parent of 1.609 trillion won, up 3.7% from a year earlier, helped by higher capital markets fee income and the effect of consolidating an insurer. Second-quarter profit rose 66.4% from the previous quarter to 1.005 trillion won. Non-bank units’ share of group profit rose to 22.3%. The group announced a 220 won per share cash dividend for the second quarter.
