Search results for OK Financial Group
Finance
OK Financial signs definitive deal to buy Yebyeol non-life insurer
OK Financial Group signed a share purchase agreement to acquire Yebyeol Non-Life Insurance and enter the insurance business. With Yebyeol\'s performance worsening, OK Financial expects it will need to inject more than 110 billion won in additional funds and is considering bringing forward planned investment outlays. It plans to prioritise policyholder protection and management normalisation, raise key solvency indicators above regulatory standards, and expand staffing from about 260 to 500 to 600.
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.
Finance
OK Financial Group named preferred bidder to buy Yebyeol Non-Life Insurance
The sale process for Yebyeol Non-Life Insurance has moved to the stage of selecting a preferred bidder. The Korea Deposit Insurance Corporation said on Thursday it chose OK Next Co, part of OK Financial Group, as the preferred bidder after evaluating bids in a re-announced public sale. KDIC received final acquisition proposals from 4 companies and will grant an exclusive negotiation period to proceed with sale talks and a share purchase agreement.
