Pt Hanwha Life Insurance Indonesia and Hanwha General Insurance Co., Ltd. (KOSE:A000370) signed agreement to acquire 62.6% stake in PT Lippo General Insurance Tbk (IDX:LPGI) from PT Inti Anugrah Pratama and PT Star Pacific Tbk (IDX:LPLI) and others on April 1, 2022. As per the transaction, Pt Hanwha Life Insurance Indonesia will acquire 42.79% and 4.9% stake from PT Inti Anugrah Pratama and PT Star Pacific Tbk respectively and Hanwha General Insurance Co., Ltd. will acquire 14.9% stake. Transaction is subject to obtaining approval from Otoritas Jasa Keuangan (OJK). Sugianto Osman and James Mythen of Allen & Overy LLP acted as legal advisor to PT Inti Anugrah Pratama and PT Star Pacific Tbk.

Pt Hanwha Life Insurance Indonesia and Hanwha General Insurance Co., Ltd. (KOSE:A000370) agreed to acquire a 62.6% stake in PT Lippo General Insurance Tbk (IDX:LPGI) from PT Inti Anugrah Pratama and PT Star Pacific Tbk (IDX:LPLI) and others on March 29, 2023.