KB Insurance Issues 286 Billion KRW Sustainable Bonds
[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 13th that it issued subordinated public offering sustainable bonds worth 286 billion KRW to prepare for the introduction of the new solvency ratio system (K-ICS) and to practice ESG (Environmental, Social, and Governance) management.
The sustainable bonds issued this time are 10-year maturity, 5-year call option subordinated bonds, and KB Insurance's RBC (Risk-Based Capital) ratio is expected to increase by approximately 12%.
KB Insurance emphasized that the funds raised will be fully invested in green projects such as ▲renewable energy production ▲expansion of eco-friendly buildings ▲biodiversity conservation, as well as social project businesses including ▲job creation ▲housing support for vulnerable groups and low-income households, leading the practice of ESG management.
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Meanwhile, prior to the bond issuance, KB Insurance's sustainable bonds received the highest rating of ST1 in the ESG certification evaluation conducted by Korea Ratings.
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