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Movement within the Korean insurance market

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Magazine Issue: 
Africa, Middle East: volatile insurance markets [3]
Magazine date: 
Jun 2017

Samsung Fire & Marine Insurance has signed an agreement for the purchase of 20% of the capital of Vietnamese insurer PJICO but the amount of this transaction has not yet been disclosed. This move will enable South Korean insurer to consolidate its presence in Vietnam. It is worth noting that Samsung [4] Fire has been owner of a branch at Ho Chi Minh City since 2002.

The other event taking place in the South Korean insurance market is the decision of the Korean supervisory authority, the Financial Services Commission, to endorse the acquisition of PCA Life Insurance, subsidiary of British insurer Prudential, by Mirae Asset Life Insurance. This transaction is estimated to amount to approximately 170 billion KRW (150 million USD).

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Fri, 23/06/2017 - 12:40

Source URL: https://www.atlas-mag.net/en/article/movement-within-the-korean-market

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[3] https://www.atlas-mag.net/en/issue/africa-middle-east-volatile-insurance-markets
[4] http://www.atlas-mag.net/en/article/samsung-insurance-at-the-heart-of-the-empire
[5] http://www.atlas-mag.net/en/category/regions-geographiques/asie