Tongyang Life

Modern high-rise bank building featuring Woori Bank logos on a blue glass facade against a clear blue sky.

Woori Financial to build US$39bn life insurer through Tongyang-ABL merger

August 18 2026

Group says it aims to build a larger, technology-driven life insurer focused on profitability, operational efficiency and ageing-related insurance demand.

Tongyang Life becomes wholly owned Woori Financial subsidiary after share swap

August 11 2026

The deal ends Tongyang Life’s roughly 17-year run as a listed company, with delisting expected at the end of August.

Woori Bank building in South Korea with blue sky background.

Tongyang Life to proceed with Woori share swap despite buyback threshold breach

August 5 2026

Shareholder appraisal claims reached KRW204.57bn (US$144m), slightly above the KRW200bn threshold that could have allowed the deal to be terminated.

woori-financial-weighs-full-tongyang-life-buyout-and-abl-merger-report

Regulatory scrutiny, shareholder objections delay Woori's Tongyang Life delisting plan — report

June 30 2026

Regulatory scrutiny and minority shareholder opposition are raising questions over valuation and deal fairness.

Tongyang Life to address investor concerns over Woori share swap

June 16 2026

Minority shareholders argue the exchange ratio undervalues Tongyang Life and are considering legal action.

Woori Financial weighs full Tong Yang Life buyout and ABL merger — report

March 17 2026

Group is looking to further solidify its position in the Korean life insurance space through the potential integration of Tong Yang Life and ABL Life.

Woori Financial finalises Tongyang Life, ABL Life acquisitions

July 3 2025

The deal, valued at KRW1.55tn (US$1.14bn), came through following nearly 10 months of rigorous regulatory reviews.

woori-financial-receives-regulatory-approval-to-acquire-tongyang-life-and-abl-life

Woori Financial receives conditional regulatory approval to acquire Tongyang Life, ABL Life

May 5 2025

Decision follows months of review and includes oversight to ensure Woori implements internal reform and capital plans.

Woori’s insurance acquisitions likely to proceed despite FSS rating downgrade: Report

March 19 2025

The FSS has downgraded Woori’s management rating from Grade 2 to Grade 3.

RGA upsizes asset intensive reinsurance deal with Tongyang Life

October 24 2024

US firm expands transaction by 200m Korean won as reinsurers increasingly turn their attention to Asia Pac.

woori-to-acquire-tongyang-and-abl-life-from-chinas-dajia-insurance-group-report

Woori signs deal to acquire Tongyang Life and ABL Life for US$1.16bn

August 29 2024

Woori Financial Group aims to diversify portfolio with acquisitions, but faces regulatory scrutiny due to recent loan scandals.

Woori Financial signs MoU to acquire Tongyang and ABL Life Insurance - report

August 6 2024

Woori is now conducting due diligence on potential acquisition which would see it become the sixth largest life insurer in South Korea.

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25 September