Lina Life Insurance Plans to Establish Digital Non-Life Insurer... "Timing and Method Under Discussion"
[Asia Economy Reporter Oh Hyung-gil] Cigna Group, the parent company of LINA Life Insurance, is set to establish a digital non-life insurance company in South Korea.
According to financial authorities and the insurance industry on the 23rd, Cigna Group finalized approval at the end of last month to establish a digital non-life insurer to enter the Korean non-life insurance market.
A LINA Life Insurance official stated, "The headquarters has decided to establish a digital non-life insurance company," adding, "The timing and method of establishment are still undecided."
Within the insurance industry, it is expected that Cigna Group will establish the company with 100% capital investment, similar to LINA Life Insurance. Currently, LINA Life Insurance's New Business Promotion Team is reportedly handling tasks related to the establishment of the digital non-life insurer.
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If Cigna Group secures the license to establish the digital non-life insurer as planned, it will become the fourth digital insurance company following Carrot General Insurance, Kyobo Lifeplanet, and Kakao Digital Non-life Insurance.
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