(Bloomberg) — Insurers the world over have been walloped by evaporating investment returns, but those in South Korea have been hit particularly hard. Just consider this: The nation’s second-largest life insurer became a penny stock this month.Hanwha Life Insurance Co. has fallen 66% over the past year, and its shares touched the equivalent of about 71 cents on March 23. Its price-to-book value is just 0.1 times, a fraction the 0.8 average for European insurers or 0.9 among U.S. counterparts, according to data compiled by Bloomberg.The latest slump in markets, which has seen the South Korean won tumble — casting …read more
Source:: Yahoo Finance
