이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Mirae Asset Life gets a nod from Korean govt to acquire PCA

Collected: 2017.05.05

Distributed: 2017.05.10

Source: Go Direct

South Korea’s Mirae Asset Life Insurance Co. gained government nod to acquire PCA Life Insurance Co., a subsidiary of U.K.-based Prudential Plc, making it the country’s fifth-largest life insurer based on asset size.

Mirae Asset Life Insurance said Thursday that it received a go-head from the Financial Services Commission on its acquisition of PCA Life Insurance on Tuesday. The Korean life insurer signed a stock purchase agreement to buy entire 23,395,700 shares in PCA Life Insurance at 170 billion won ($150 million) in November last year.

The acquisition will make Mirae Asset Life Insurance the nation’s fifth-largest life insurer, replacing ING Life Insurance Korea, with its assets stretched to 33.4 trillion own. Its assets in variable life insurance segment also grew to 6 trillion won, the fourth largest in the country.

The company hopes to become the best retirement planner by creating a synergy effect through strengths of the two life insurers.

It plans to complete the merger process within the first half of next year.

By Kim Tae-sung

List

Previous: Hyundai and Kia’s Apr shipments to China hit 8-year low

Next: S. Korea, Finland to discuss addition of direct flights between two countries