Meritz Fire & Marine Insurance Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/meritz-fire-marine-insurance/ Tue, 09 Dec 2025 05:18:42 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Meritz Fire & Marine faces US$680,000 exposure to Coupang data breach https://insuranceasianews.com/meritz-fire-marine-faces-us682m-expsoure-to-coupang-data-breach-reports/ Mon, 08 Dec 2025 10:08:30 +0000 https://insuranceasianews.com/?p=206350 US-listed Korean retailer is facing class action suits in the US and South Korea following a data leak that compromised information of 34 million customers.

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This story and headline have been corrected after the initial story stated that the exposure was US$682 million.
Meritz Fire & Marine is facing a KRW1 billion (US$680,000) exposure linked to the d...

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The post Meritz Fire & Marine faces US$680,000 exposure to Coupang data breach appeared first on InsuranceAsia News.

]]> Lawmakers to question major Korean carriers over high disaster insurance premiums, margins: report https://insuranceasianews.com/lawmakers-to-question-major-korean-carriers-over-high-disaster-insurance-premiums-margins-report/ Tue, 14 Oct 2025 10:09:09 +0000 https://insuranceasianews.com/?p=201940 The National Assembly has summoned chief executives of Samsung Fire & Marine, DB Insurance, Hyundai Marine & Fire, KB Insurance, Hanwha General Insurance, Meritz Fire & Marine and NH NongHyup Property & Casualty Insurance.

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South Korea’s largest non-life insurers set to be questioned by lawmakers over high premiums and profit margins in government-backed disaster insurance programs.
The National Assembly’s Publi...

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]]> Meritz Fire & Marine withdraws offer to buy troubled MG Non-Life https://insuranceasianews.com/meritz-fire-marine-withdraws-offer-to-buy-troubled-mg-non-life/ Thu, 13 Mar 2025 03:25:57 +0000 https://insuranceasianews.com/?p=178407 South Korean insurer could face liquidation as the Korea Deposit Insurance Corporation (KDIC) evaluates its options.

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Meritz Fire & Marine Insurance has withdrawn from a deal to acquire troubled Korean carrier MG Non-Life Insurance following opposition from the target’s employees union, according to local media r...

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]]> MG Non-Life sale: KDIC files injunction plea against union https://insuranceasianews.com/mg-non-life-sale-kdic-files-injunction-plea-against-union/ Thu, 13 Feb 2025 06:13:16 +0000 https://insuranceasianews.com/?p=176126 Troubled insurer’s labour union has been disrupting the due diligence process by prospective buyer Meritz Fire & Marine.

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The Korea Deposit Insurance Corporation (KDIC) has filed for a court injunction against the labour union representing MG Non-Life Insurance to prohibit interference with the insurer’s sale process, ac...

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]]> MG Non-Life owner to move court as talks with union break down: report https://insuranceasianews.com/mg-non-life-owner-to-move-court-as-talks-with-union-breaks-down-report/ Sun, 09 Feb 2025 21:02:57 +0000 https://insuranceasianews.com/?p=175461 Korea Deposit Insurance Corporation's sale of the insurer to Meritz Fire & Marine has been stuck over the labour union's opposition.

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The Korea Deposit Insurance Corporation (KDIC) is reportedly considering filing for an injunction to prohibit obstruction of business this week as employees union continues to disrupt MG Non-Life Insu...

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]]> Liquidation on the cards as MG Non-Life sale hits union roadblock https://insuranceasianews.com/liquidation-on-the-cards-as-mg-non-life-sale-hits-union-roadblock/ Fri, 17 Jan 2025 05:15:24 +0000 https://insuranceasianews.com/?p=173718 Korea Deposit Insurance Corporation says preferred bidder Meritz Fire & Marine has been unable to conduct due diligence due to labour union opposition.

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The Korea Deposit Insurance Corporation (KDIC) is considering restructuring MG Non-Life Insurance, including liquidation or bankruptcy, as the planned acquisition by Meritz Fire & Marine Insurance...

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The post Liquidation on the cards as MG Non-Life sale hits union roadblock appeared first on InsuranceAsia News.

]]> KDIC picks Meritz Fire & Marine as preferred bidder for MG Non-Life sale https://insuranceasianews.com/kdic-picks-meritz-fire-marine-as-preferred-bidder-for-mg-non-life-sale/ Mon, 09 Dec 2024 08:11:37 +0000 https://insuranceasianews.com/?p=171520 The bidder gets an exclusive negotiation period to complete the acquisition of the state-owned insolvent carrier.

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The Korea Deposit Insurance Corporation (KDIC) has picked Meritz Fire & Marine as the preferred bidder for the sale of MG Non-Life Insurance following a private sale process, according to an annou...

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]]> Meritz Fire & Marine’s strong earnings to support its risk-adjusted capitalisation: AM Best https://insuranceasianews.com/meritz-fire-marines-strong-earnings-to-support-its-risk-adjusted-capitalisation-am-best/ Mon, 09 Dec 2024 06:03:33 +0000 https://insuranceasianews.com/?p=171506 The rating agency has affirmed financial strength rating of ‘A’ (excellent) and a long-term issuer credit rating of “a” (excellent) of the carrier with a stable outlook.

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South Korean insurer Meritz Fire & Marine Insurance’s “strong” earnings stream will continue to support its risk-adjusted capitalisation over the medium term, according to a rating report by AM Be...

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The post Meritz Fire & Marine’s strong earnings to support its risk-adjusted capitalisation: AM Best appeared first on InsuranceAsia News.

]]> MG Non-Life sale called off after failed fourth attempt: report https://insuranceasianews.com/mg-non-life-sale-called-off-after-failed-fourth-attempt-report/ Sun, 18 Aug 2024 22:40:31 +0000 https://insuranceasianews.com/?p=160680 KDIC said that it will pursue a private sale in the future after rejecting bids from three players including Meritz Fire and Marine.

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The Korea Deposit Insurance Corporation (KDIC) has called off the sale of non-life insurer MG Non-Life after a fourth attempt at sale also failed, according to local media reports.
KDIC, the state-own...

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]]> Meritz Fire enters fray for MG Non-Life Insurance: report https://insuranceasianews.com/meritz-fire-enters-bidding-fray-for-mg-non-life-insurance-report/ Sun, 11 Aug 2024 22:55:47 +0000 https://insuranceasianews.com/?p=160137 Private equity firms Dayli Partners and JC Flowers are the other two existing bidders in the race.

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South Korean carrier MG Non-Life Insurance (MG) has received a bid from Meritz Fire & Marine Insurance, making it the third contender to join the race for the beleaguered firm, according to a medi...

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The post Meritz Fire enters fray for MG Non-Life Insurance: report appeared first on InsuranceAsia News.

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