, South Korea
239 view s

Kyobo Life to issue $500m hybrid bonds

The 30-year bonds will all be sold to offshore investors.

South Korea’s Kyobo Life Insurance will be issuing $500M worth of hybrid bonds to bolster its capital ratios.

The 30-year bonds, which will be sold to offshore investors, will carry an annual interest rate of 5.9% and a capp option after five years.

According to Kyobo Life, the sale of the bonds is to help prepare for potential risks in the run-up to the implementation of tougher international financial requirements next year.

As of March, Kyobo Life has a risk-based capital ratio of 205.1%. South Korean life insurers are advised to have 150% or more.

*****

You may also like:

COMMENTARY: How insurance companies in Asia can create meaningful customer experiences

1 in 2 Hong Kongers said they have ‘no spare money’ for insurance

Taiwan insurers mull injecting new funds as COVID-19 claims cut down profit

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Income-Allianz failed merger shows popular opinion is king
The deal faced backlash from Singaporeans who thought it betrayed Income’s social mission.
Filipino gamers hold promise for FWD
The insurer plans to support other games and aspects of the gaming ecosystem beyond esports.