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4 clusters · 4 sources · 25 days · First seen · Last updated

Woori Financial to merge Dongyang and ABL Life

Overview

Following the completion of the stock exchange on August 11, 2026, which made Dongyang Life Insurance a wholly-owned subsidiary of Woori Financial Group, the group has announced further consolidation plans.

Woori Financial Group has officially commenced the integration of its life insurance subsidiaries, Dongyang Life Insurance and ABL Life Insurance. This merger is targeted for completion in the second half of 2027, aiming to create a major life insurer with estimated total assets of 55 trillion won. The move is intended to establish the insurance business as a core pillar of the group’s portfolio, positioning the new entity to compete within the top five tier of the life insurance industry.

To support this transition, Chairman Lim Jong-ryong is scheduled to host a CEO town hall meeting to communicate the integration vision to executives and team leaders. Strategic priorities for the combined entity include securing capital adequacy (K-ICS ratio), increasing Contract Service Margin (CSM), and investing in artificial intelligence to innovate management processes. Additionally, the group plans to expand into the nursing care sector to address the challenges of an aging society.

Entities

Woori Financial Group · Lim Jong-ryong · Dongyang Life Insurance Co. · Dongyang Life Insurance · Tongyang Life Insurance

Timeline

  1. 29 days ago

    [BUSINESS] 2 sources
    Woori Financial Group to merge Dongyang and ABL Life

    Woori Financial Group is merging Dongyang Life and ABL Life to launch a major life insurer with 55 trillion won in assets by the second half of next year.

  2. about 1 month ago

    [BUSINESS] 2 sources
    Tongyang Life Insurance becomes wholly-owned subsidiary of Woori Financial Group

    Tongyang Life Insurance has become a wholly-owned subsidiary of Woori Financial Group following a completed stock exchange, with delisting expected by late August to enhance group synergies.

  3. about 2 months ago

    [BUSINESS] 2 sources
    Dongyang Life posts 11.5% profit jump in H1 from lifelong premiums

    Dongyang Life, Woori Financial’s insurer, posted a 11.5% rise in H1 net profit to 91.9 bn won, driven by long‑term whole‑life sales and a solvency ratio of 205%.

  4. about 2 months ago

    [BUSINESS] 2 sources
    Woori Financial completes full takeover of Dongyang Life

    Woori Financial approved a full merger of Dongyang Life on Aug 24, converting shares at 0.2521056 Woori per Dongyang share, with the transfer set for Aug 11 and delisting to follow.

Sources

biz.heraldcorp.com · news.heraldcorp.com · sateconomy.co.kr · socialvalue.kr

This summary has been updated 2 times: see revision history