recently advised Fubon Life, an affiliate of Fubon Financial Holding, one of
Taiwan’s most prominent companies, in connection with its share subscription of
Hyundai Life’s share offering, equivalent to KRW 233.6 billion.
foundation in 1989 as Daeshin Life, Hyundai Life was sold to Green Cross Life
in 2003, and incorporated into Hyundai Motor Group, in 2012. As of the end of
December 2017, Hyundai Life is a mid-sized insurance company with total assets
of KRW 13 trillion. Fubon Life previously invested in Hyundai Life and became a
minority shareholder holding 48% in December 2015. Subsequently, Fubon Life became
the largest shareholder of Hyundai Life holding 62% through this share
subscription. The corporate name of Hyundai Life has been changed to Fubon
Hyundai Life as of September 13, 2018.
share subscription, Fubon Hyundai Life’s risk based capital ratio has improved
to more than 250%. Fubon Hyundai Life will be able to further enhance its sales
force, by benchmarking the know-how of Fubon Life with respect to bancassurance
and pension insurance products that have been successful in Taiwan.
BKL team lawyers
including Sky YANG, Mi Eun ROH, Yoon Hyoung JEONG, Sung Yun KANG, Eu Gene Park advised
Fubon Life on all aspects of the share subscription transaction, including
conducting due diligence on Hyundai Life, drafting and negotiating the share
subscription agreement, and shareholders agreement as well as providing closing
assistance. Throughout the transaction, the advisory team, composed of
securities and finance, insurance and labor experts worked closely to provide
comprehensive, solution oriented advice, helping to progress the transaction to
a smooth and successful closing.