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(Hanwha Life Insurance) |
South Korea’s Hanwha Life Insurance said on Thursday that it acquired 25.86 million shares in its non-life affiliate Carrot General Insurance Co. for 205.6 billion won ($143 million) to raise its ownership stake to 98.3 percent.
The move signals the first step toward an absorption-type merger between Hanwha Life Insurance and the digital insurer. The parent insurer held a 59.6 percent stake before the merger.
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