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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanwha Life Insurance announced on the 5th that Hanwha Life Financial Services, a sales subsidiary (GA), has attracted 100 billion won worth of investment from Korea Investment Private Equity (PE).
According to Hanwha Life Insurance, it is the first time that an insurance company's subsidiary GA has received large-scale external investment in recognition of its value in the investment market. With this contract, HantuPE will hold an 11.1% stake in Hanwha Life Financial Services in the form of convertible preferred stocks (CPS).
The two companies plan to go beyond simple financial investment relations and develop a strategic cooperative relationship between Hanwha Life Insurance and Korea Investment Finance Holdings. The sales channel of Hanwha Life Insurance Services will be equipped with Korea Investment & Securities investment products, while Korea Investment & Finance Holdings will also cross-sell life and property insurance products held by Hanwha Life Insurance and Hanwha Insurance.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
