The merger is intended to enhance Kyobo Life's digital insurance capabilities by combining Lifeplanet's online platform with its broader life insurance franchise.
The regulator plans closer oversight of claims assessment practices, with a particular focus on claims leakage, dispute trends and potential on-site reviews.
The insurer will pursue a further appeal after an appellate authority confirmed a disputed GST demand and penalty relating to the period between July 2017 and March 2022.
