The merger of Tongyang Life and ABL Life has gained momentum, a move that will create South Korea's fifth largest life insurer.
Woori Financial Group, which acquired both life insurers from China’s Daija Insurance Group in August 2025, plans to integrate ABL Life with Tongyang Life, reported Chosun Biz.
The merger of the two companies with combined total assets of KRW55tn ($37bn) as of the end of September 2025, will create the fifth largest life insurer in South Korea, overtaking NH Nonghyup Life Insurance (KRW53.75n) and KB Life (KRW35.81tn).