South Korea’s general insurance market growth sparks interest among foreign investors
GlobalData forecasts that South Korea’s general insurance market will experience healthy growth, recording a compound annual growth rate (CAGR) of…
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Insurer Carrot on track to gain unicorn status with fresh infusion
Carrot General Insurance, a South Korea-based digital insurer, has raised $145m (KRW175bn) in its third funding round led by private…
KDB scraps deal to sell life insurance arm to JC Partners
Korea Development Bank (KDB) has called off the plans to sell its life insurance subsidiary to private equity firm JC…
Shinhan Financial Group buys non-life business of BNP Paribas Cardif
Shinhan Financial Group has reportedly signed an agreement to acquire BNP Paribas Cardif General Insurance in South Korea. As per…
BMS bolsters Asian presence with acquisition of Seoul-based VIB
UK-based specialist insurance and reinsurance broker BMS has acquired South Korea’s Value-add Insurance Broker (VIB) for an undisclosed sum. VIB…
Chubb to acquire Cigna’s Asia-Pacific businesses for $5.75bn
Insurance giant Chubb has signed a definitive agreement to acquire the life and non-life insurance businesses of Cigna for $5.75bn…
Carrot General Insurance raises $88.7m through rights offering
South Korea-based digital-only insurance provider Carrot General Insurance has announced the raise of $88.7m through its rights offering. Hanhwa, SK…
Cigna looking to enter South Korea’s digital non-life insurance industry
American insurance major Cigna is reportedly planning to establish a digital non-life insurance unit in South Korea. Cigna will self-fund…