Shinhan Financial acquires Lotte Insurance Co. for 693 bln won
High impactPredicted impact: High· Actual: +0.9% vs sector, volume 1.3× normal (5 trading days)
Acquisition of Lotte Insurance for ₩693B; about 1.5% of ₩47T market value.
Knock-on:Hana Financial GroupMoves with SHINHAN (corr 0.84); moved with SHINHAN on 17 of its 17 biggest daysKB Financial GroupMoves with SHINHAN (corr 0.82); moved with SHINHAN on 16 of its 17 biggest daysWoori Financial GroupMoves with SHINHAN (corr 0.77); moved with SHINHAN on 16 of its 17 biggest days