Woori Financial Group has jumped into the bidding competition to acquire Lotte Insurance, industry sources said Thursday. Woori Financial is the only major domestic financial group that does not have an insurance affiliate, and the group has long outwardly spoken about its intention to strengthen its non-banking business through acquisitions.
(Bloomberg) Prime Minister Rishi Sunak is doing worse than his short-lived predecessor Liz Truss among the voters that last put the Conservative Party in power, as many flock to the right-wing Reform Party, a pollster has found.Most Read from BloombergHow Suspects Laundered Billions in Singapore for YearsStocks, Bonds Get ‘Chillax’ Moment After Rally: Markets WrapBitcoin Surges Past $42,000 as Crypto Rally Gathers SteamHere’s How to Invest in Gold as It Hits an All-Time HighAlaska Air Agrees
Election strategists cannot resist constructing an archetype that their party needs to win over. For Tony Blair it was Mondeo Man, for Boris Johnson it was Waitrose Woman, David Cameron had Worcester Woman and Margaret Thatcher had Essex Man.
Intensifying conflicts before proxy season feeding law firms
Posted : 2021-03-09 15:55
By Park Jae-hyuk
Multiple chaebol family feuds and shareholder activism that will heat up the general shareholders meetings of several listed companies here later this month appear to be creating ample opportunities for domestic law firms to make handsome profits.
In addition to Kim & Chang and other large law firms that have scaled up their teams dealing with corporate law and governance structures to cope with the recent Commercial Act revision, boutique law firms are also going all out to take advantage of intensifying conflicts over the control of several conglomerates.
JKL Partners fails to normalize Lotte Insurance
Posted : 2021-02-17 16:44
By Park Jae-hyuk
JKL Partners failed to get Lotte Insurance to turn a profit again last year, although the local private equity firm (PEF) sent 400 of the insurer s employees home and closed 40 offices out of 140 since its takeover in October 2019.
Due to the unsatisfactory result, JKL is expected to face more difficulties over the next few years in its attempt to recoup its investment by reselling the insurance firm.
According to a recent regulatory filing by Lotte Insurance, the company posted an operating loss of 20.8 billion won ($18 million) last year. This followed its 70.9 billion won operating loss in 2019.