Aiming to expand their non-banking business portfolios, major financial firms, including local financial groups, are closely examining whether to add new insurance subsidiaries, as two insurers - KDB Life Insurance and ABL Life - are currently looking for new owners. Lotte Insurance and Tongyang Life Insurance are also deemed as candidates that are likely to be put up for sale within the next several months, attracting the interest of potential buyers.
ABL Life sets sights on Australian real estate
The Korean insurer plans to “reshuffle” its property allocations in terms of geography and has particular preferences over its external manager partners.
South Korean insurer ABL Life is keen to ramp up its real estate investments and has set its sights on Australia as its preferred investment destination, in part because of the country’s favourable regulatory policies.
“We will be focusing on real estate, and we aren’t hesitant to expand real estate investments at this stage. Most Korean investors focus on, for example, the US, UK, Germany and other western European countries. But we re different. We ll be focusing on Australia,” Eoh Jiroo, ABL’s head of infrastructure and real asset investments, told