What changed
2026-08-11 03:21 UTC → 2026-08-18 23:54 UTC ·
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Woori Financial completes takeover of to merge Dongyang and ABL Life
In late July 2026, Woori Financial Group secured approval for a full merger Following the completion of its subsidiary Dongyang Life Insurance. Shareholders voted overwhelmingly, and the stock exchange ratio was set to convert each on August 11, 2026, which made Dongyang Life share into 0.2521056 Insurance a wholly-owned subsidiary of Woori Financial shares, with a higher purchase-right price offered to dissenting minority shareholders. The transaction was cleared by Group, the group has announced further consolidation plans. Woori Financial Services Commission, and Group has officially commenced the share transfer was scheduled for August 11, after which integration of its life insurance subsidiaries, Dongyang Life would be delisted from the KOSPI market Insurance and new Woori Financial shares would begin trading later in August. A few days later, Dongyang ABL Life reported an 11.5% rise Insurance. This merger is targeted for completion in first-half-year 2024 net profit, driven by strong sales of newly launched whole-life policies. Quarterly profit surged 168% and new-business premiums rose 48.4% year-on-year. The insurer’s solvency ratio improved markedly. The report reiterated that Woori Financial’s board had approved the comprehensive share-exchange plan, confirming the August 11 exchange and the upcoming listing second half of the parent’s new shares. On August 11, the comprehensive stock exchange was completed, officially making Dongyang Life 2027, aiming to create a wholly-owned subsidiary major life insurer with estimated total assets of Woori Financial Group. 55 trillion won. The integration move is intended to simplify establish the corporate structure, reduce listing maintenance costs, and accelerate strategic decision-making. Woori Financial Group plans insurance business as a core pillar of the group’s portfolio, positioning the new entity to leverage compete within the top five tier of the life insurance industry. To support this move transition, Chairman Lim Jong-ryong is scheduled to strengthen its non-banking portfolio by combining insurance expertise with its existing banking, card, host a CEO town hall meeting to communicate the integration vision to executives and securities services. Dongyang Life is expected 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 be delisted from innovate management processes. Additionally, the stock market by group plans to expand into the end nursing care sector to address the challenges of August. an aging society.