Shinhan Buys Lotte Non-Life to Chase KB in Insurance | October 14 2026 | Finance Daily - 동영상 Dailymotion

Seoul Economic Daily

Episode Description: Shinhan Financial Group returns to M&A with a deal built to close its profit gap with KB. Shinhan agreed on October 13 to buy a 77.04% stake in Lotte Non-Life Insurance from JKL Partners for 693.3 billion won (about $515 million), its first acquisition since 2019. It plans to buy the remaining 22.96%, inject about 300 billion won (about $223 million) after regulatory approval, and merge the insurer with Shinhan EZ General Insurance. Non-life insurance is where KB leads: KB out-earned Shinhan by 441.9 billion won (about $329 million) in the first half, while Lotte swung to a net loss of 18.5 billion won (about $14 million). We also look at project financing loans, which rose for the first time since late 2023 to 115.8 trillion won (about $86 billion).  Sources:  Shinhan Financial Acquires Lotte Non-Life Insurance for 690 Billion Won (About $513 Million), Expanding Insurance to Catch KB — Seoul Economic Daily, October 14, 2026 PF Loans Rise for the First Time in Two and a Half Years — Seoul Economic Daily, October 14, 2026  About AI PRISM: AI PRISM is Seoul Economic Daily’s WAN-IFRA award-winning newsroom AI series, delivering Korean economic news adapted for global audiences. Episodes are produced with AI assistance and reviewed by a human editor.  Tags: #ShinhanFinancial #LotteNonLifeInsurance #KBFinancial #KoreaInsurance #MergersAndAcquisitions #PFLoans #KOSPI #AIPRISM #SeoulEconomicDaily #WANIFRA

Transcript

00:03Shinhan Financial Group just agreed to buy Lotte non-life insurance.

00:07The goal is to catch KB, and insurance is where KB is winning.

00:13It's Wednesday, October 14th.

00:15Let's break down what's happening in Korea's financial sector.

00:19Shinhan signed with private equity owner J.K.L. Partners on Tuesday.

00:23It's the group's first acquisition since 2019.

00:27Lotte will eventually merge with Shinhan EZ General Insurance.

00:31Here's what the numbers show.

00:3377.04% of Lotte non-life goes to Shinhan for 693.3 billion won, about $515 million.

00:44KB out-earned Shinhan by 441.9 billion won, about $329 million, in the first half.

00:53Shinhan plans to inject about 300 billion won, roughly $223 million, after approval.

01:00Separately, Korea's project financing loans rose for the first time since late 2023,

01:05to 115.8 trillion won, about $86 billion.

01:11So what does this mean for bank analysts?

01:14Earlier, we said insurance is where KB is winning.

01:17Here's what that actually means for you.

01:19Lotte swung to a first-half loss, so capital rebuilding comes before any profit catch-up.

01:26Watch for regulatory approval of the deal.

01:28Watch how Shinhan prices the remaining 22.96% stake.

01:33And watch Lotte's capital ratio as it rebuilds.

01:37That's today's AI Prism, Finance Daily.

01:40This episode was produced with AI assistance based on Seoul Economic Daily reporting

01:45and reviewed by a human editor.

01:48AI Prism is a Juan Ifra award-winning series.

01:51We'll be back tomorrow.

01:52Let's go.

01:52LAUGHTER

01:54What's going on?

Shinhan Buys Lotte Non-Life to Chase KB in Insurance | October 14 2026 | Finance Daily

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