Hanwha Life acquired a 40 percent stake in Indonesia s Nobu Bank earlier this month, expanding Hanwha s financial portfolio in the Southeast Asian market, the insurance firm announced Monday.
Hanwha Life, a major insurer under the Korean conglomerate Hanwha Group, is set to expand its presence in Southeast Asia, having secured a stake in Indonesia's Nobu Bank, according to the insurer on Monday. Hanwha Life acquired a 40 percent stake in Nobu Bank through a deal signed with Indonesia’s Lippo Group, a major conglomerate with businesses spanning Southeast Asia. The deal signing event was held in .
Hanwha Life, a leading Korean insurance company and the life insurance subsidiary of Hanwha Group, has made a strategic move into the Indonesian banking sector through a stake purchase. The company announced on Wednesday that its board had approved acquiring a 40 percent stake in Nobu Bank from Indonesia's Lippo Group, marking the first entry of a Korean insurer into the Indonesian banking industry. The decision.
Hanwha Life will acquire a 40 percent stake in Nobu Bank in Indonesia, under a plan to expand into Southeast Asia and leap as a global financial group.
The Vietnamese arm of Hanwha Life Insurance posted its first accumulated profits since its launch 15 years ago. Marking the local unit’s 15th anniversary, the insurer held a ceremony in Ho Chi Minh City, Vietnam on Friday, where it unveiled its financial achievements. Since posting a net profit for the first time in 2016, the Vietnamese subsidiary has recorded profits for nearly five consecutive years between 2.