Hanwha Life looks to London to boost returns
The insurer, which in its former incarnation as Korea Life was bailed out during the Asian financial crisis, has bought a London commercial property amid a housing slump at home.
The recently renamed Hanwha Life has dipped its toe in London’s property market, as Korean insurers face up to diminishing domestic real estate investment opportunities at home.
Hanwha Life is Korea’s second largest life insurer with over $60 billion in AUM. It was formerly Korea Life, which was established in 1946 as the nation’s first life insurer. But the company had to be bailed out by the government during the 1997-8 Asian financial crisis.
Family conglomerate Hanwha Group …
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