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Insurance

Hanwha Life acquires Indonesia's Lippo General Insurance

The acquisition will enable Hanwha to build comprehensive product portfolio for Indonesian market

By Mar 30, 2023 (Gmt+09:00)

1 Min read

Hanwha　Life　acquires　Indonesia's　Lippo　General　Insurance　

South Korea's Hanwha Life Insurance said on Thursday that it has acquired a 62.6% stake in Indonesian insurer Lippo General Insurance, in collaboration with Hanwha General Insurance.

The acquisition will see Hanwha Life Indonesia acquire a 47.7% stake, with Hanwha General Insurance taking a 14.9% stake.

Lippo General Insurance is currently ranked as the 14th largest insurer in the Indonesian market, with the second-largest market share for health and accident insurance.

Hanwha Life Indonesia aims to use the acquisition to create a product portfolio that covers both life and non-life insurance, based on the horizontal integration of local insurance companies.

Write to Jin-Woo Park at youpen@hankyung.com
##Hanwha Liife Insurance Hanwha General Insurance Lippo #korea hanwha lippo #hanwha lippo #hanwha indonesia insurance
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