Hanwha Life Financial Services acquires Peoplelife
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- —
- Implied 100%
- —
- Revenue
- $209m
- Op. income
- $8m
- Multiples
- —
2021 · Multiple reports agree
2021 · Multiple reports agree
- Target
- Peoplelife · Insurance general agency (GA)
- Buyer
- Hanwha Life Financial Services · SI
- Seller
- —
- Structure
- —
- Announced
- Nov 1, 2022
- Closed
- Jan 2, 2023
- Stage
- Closed
Target
A large general insurance agency (GA) founded in 2003, ranked around sixth in the industry, with 2021 revenue of KRW 303.1bn and operating profit of KRW 12.1bn. After the deal Hanwha Life held three GAs with about 25,000 agents combined.
Deal rationale
Hanwha Life CEO Yeo Seung-joo said the acquisition was part of a growth strategy to become a top-tier GA, citing stronger sales expertise and value-adding financial services (Kukinews), and said it was not merely about scale in agents or monthly premiums (Bizwatch). The company said it aims at a digital-platform-based GA expansion and total life solutions spanning insurance, investment, tax and legal services, keeping a two-company structure for now.
| Revenue | $209m |
| Operating income | $8m |
| EBITDA | — |
| Net income | — |
2021 · Multiple reports agree (not yet checked against DART)
Press coverage
- 쿠키뉴스 (2022-11-01): “1일 오전 피플라이프 인수를 위한 주식매매계약(SPA)을 체결했다고 밝혔다.”
- 비즈워치 (2023-01-02): “인수금액은 2000억원대로 전해진다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.