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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hana Financial Group has jumped into the main bid for KDB Life Insurance, the industry's 10th-largest, to expand the proportion of non-banking companies by strengthening the insurance industry.
According to the investment banking industry on the 7th, KDB Industrial Bank, the largest shareholder of KDB Life Insurance, and Samil Accounting Corp., the organizer of the sale, received letters of intent by noon on the same day, and Hana Financial Group participated alone.
The target of the sale is a 92.73% stake in KDB Life Insurance held by the Korea Development Bank and Kansus Asset Management, with 200 billion won being mentioned as the sale price.
Hana Financial Group owns Hana Life Insurance as an affiliate, and as of the end of March, the industry's total assets amounted to 6.3265 trillion won, ranking 17th among 22 major life insurers. If Hana Life acquires KDB Life Insurance, it is expected to jump to the eighth to ninth place in the industry.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
