MG Non-Life Insurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/mg-non-life-insurance/ Sun, 18 Aug 2024 13:55:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 MG Non-Life sale called off after failed fourth attempt: report https://insuranceasianews.com/mg-non-life-sale-called-off-after-failed-fourth-attempt-report/ Sun, 18 Aug 2024 22:40:31 +0000 https://insuranceasianews.com/?p=160680 KDIC said that it will pursue a private sale in the future after rejecting bids from three players including Meritz Fire and Marine.

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The Korea Deposit Insurance Corporation (KDIC) has called off the sale of non-life insurer MG Non-Life after a fourth attempt at sale also failed, according to local media reports.
KDIC, the state-own...

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Meritz Fire enters fray for MG Non-Life Insurance: report https://insuranceasianews.com/meritz-fire-enters-bidding-fray-for-mg-non-life-insurance-report/ Sun, 11 Aug 2024 22:55:47 +0000 https://insuranceasianews.com/?p=160137 Private equity firms Dayli Partners and JC Flowers are the other two existing bidders in the race.

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South Korean carrier MG Non-Life Insurance (MG) has received a bid from Meritz Fire & Marine Insurance, making it the third contender to join the race for the beleaguered firm, according to a medi...

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MG Insurance majority owner files fresh lawsuit to stop sale: report https://insuranceasianews.com/jc-partners-files-fresh-lawsuit-to-block-mg-insurance-sale/ Tue, 26 Sep 2023 20:05:47 +0000 https://insuranceasianews.com/?p=135218 Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.

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Private equity firm JC Partners has filed a provisional injunction on September 25 to block the ongoing sale process of MG Insurance initiated by the Korea Deposit Insurance Corporation (KDIC), Busine...

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Lotte Insurance’s private equity owner to kick off sale process: report https://insuranceasianews.com/new-accounting-rule-impedes-korean-pc-insurance-ma-deals-report/ Mon, 25 Sep 2023 20:23:52 +0000 https://insuranceasianews.com/?p=135112 Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.

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South Korean insurer Lotte Insurance has announced that its largest shareholder, private equity firm JKL Partners, has begun preparations for a sale, according to local media reports.
The company’s ba...

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