Hana Financial Group Selected as Preferred Bidder for Sale of KDB Life Insurance

Hana Financial Group Chosen as Preferred Bidder for Sale of KDB Life Insurance

By Kang Ji-soo

Hana Financial Group has been selected as the preferred bidder for the sale of KDB Life Insurance, according to KDB Consus Value (KCV PEF).

The bidding process for the sale of KDB Life Insurance recently ended, with Hana Financial Group emerging as the preferred bidder. The selection was based on various factors, including the bidder’s eligibility, potential for a successful deal, and the medium to long-term development potential of KDB Life.

While the sale is still pending, a detailed due diligence procedure will be conducted to ensure a smooth transition, taking into account the changes in the insurance industry’s accounting and oversight system set to take effect in 2023.

Korea Development Bank, as the general partner of KCV PEF, expressed its commitment to working closely with Hana Financial Group to ensure the successful completion of the transaction. This sale is expected to provide a stable foundation for future growth as KDB Life Insurance starts anew as a member of Hana Financial Group.

For inquiries, contact Kang Ji-soo at jskang@dealsite.co.kr

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[딜사이트 강지수 기자] Hana Financial Group was selected as the preferred bidder for the sale of KDB Life Insurance.

KDB Consus Value (KCV PEF) announced on the 13th that it has selected Hana Financial Group as the preferred bidder for the sale of KDB Life Insurance. Hana Financial Group participated in the bid for the sale of KDB Life Insurance, which ended on the 7th, and was selected considering the eligibility as a bidder, the possibility of a deal, and the medium to long-term development potential of KDB Life. Until the sale, a detailed due diligence procedure remains on the right side due to changes in the insurance industry’s accounting and oversight system in 2023.

The Korea Development Bank said, “As the general partner of KCV PEF, we intend to do our best to ensure the successful completion of this transaction through close consultation with the right side. “It is expected that we will be able to secure a stable foundation for future growth, just starting again as a member of the .

Reporter Kang Ji-soo jskang@dealsite.co.kr

ⓒ Looking at the market with new eyes. Unauthorized reproduction and distribution of dealing sites is prohibited

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