January 18, 2017 10:51 AM ET

Insurance

Company Overview of Hanwha Life Insurance Co., Ltd.

Company Overview

Hanwha Life Insurance Co., Ltd. provides various insurance products to individual and corporate customers. The company offers child, critical illness, whole life, and variable annuity insurance products. It also provides retirement pension plans; and protection-focused products, including corporate wellbeing life plans, employee’s coverage plans, and group medical coverage plans, as well as group savings and welfare corporate plans, and annuities. In addition, the company offers asset management products, such as unsecured loans, loans secured by property, loans by payment guarantees, and policy loans. It offers its products in South Korea, China, Vietnam, Indonesia, Japan, London, and New Y...

63 Hanwha Finance Center

50, 63-ro

Ywouido-dong

Yeongdeungpo-gu

Seoul,  150-763

South Korea

Founded in 1946

Phone:

82 2 789 5114

Fax:

82 2 784 7217

Key Executives for Hanwha Life Insurance Co., Ltd.

Hanwha Life Insurance Co., Ltd. does not have any Key Executives recorded.

Hanwha Life Insurance Co., Ltd. Key Developments

Investors Seeking To Acquire Stake In Woori Bank

Eight investors have participated in the bidding for a 30% stake in Woori Bank Co., Ltd. (KOSE:A000030), heralding that the government's long-stalled plan to sell the bank could be nearing success. According to the Financial Services Commission (FSC), the eight offered prices higher than that set by the FSC's Public Fund Oversight Committee in the bidding, which closed on November 11, 2016. The combined bids were oversubscribed reaching 33.68%. To date, four investors have been disclosed are Kiwoom Securities Co., Ltd. (KOSE:A039490), Korea Investment Holdings Co., Ltd. (KOSE:A071050), Hanwha Life Insurance Co., Ltd. (KOSE:A088350) and Tong Yang Life Insurance Co., Ltd. (KOSE:A082640), which announced their participation through regulatory filings. The privatization of Woori Bank will be continued through December 30, 2016, when new outside directors, recommended by the new shareholders, are appointed at a board meeting.

Hanwha Life Insurance Co., Ltd., Q3 2016 Earnings Call, Nov 10, 2016

Hanwha Life Insurance Co., Ltd., Q3 2016 Earnings Call, Nov 10, 2016

Woori Bank Continues To Receive Bids

The stock of Woori Bank Co., Ltd. (KOSE:A000030), on September 26, 2016, ended at KRW 11400 won, up 0.44% from the previous session, amid increasing interest in bidding for Woori Bank. According to Korea Deposit Insurance Corporation, which is selling a 30% stake out of 51.06% it has in Woori Bank Co., Ltd. (KOSE:A000030), a total of 18 entities have submitted LOIs for 4 to 8%. Three investors - Korea Investment & Securities Co., Ltd., Kiwoom Securities Co., Ltd. (KOSE:A039490) and Hanwha Life Insurance Co., Ltd. (KOSE:A088350), have made their bids public. Other investors include, Tong Yang Life Insurance Co., Ltd. (KOSE:A082640) and ORIX Private Equity Korea Corporation, Vogo Fund I, Baring Private Equity Asia, Affinity Equity Partners, CVC Capital Partners Limited and IMM Private Equity, Inc. The government will hold a meeting late on September 26, 2016, to confirm the dates for due diligence and actual bidding.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
November 13, 2016
Woori Bank Co., Ltd.
Merger/Acquisition
September 23, 2016
Hanwha Life Investment (USA) Ltd.
Merger/Acquisition
April 6, 2016
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