This tracker covers possible deals reported by media across the Asia-Pacific region over a certain period. The information is gathered from various news sources, excludes confirmed deals and is limited to potential acquisitions or sales involving companies or operations in the region. Click here to read the previous month's article.
South Korea's financial companies were in an acquisitive mood at the start of 2018, with plans to strengthen their nonbank operations through M&A deals, while the Australian insurance sector remained busy with a number of potential transactions.
KB Financial Group Inc. is considering deals in the insurance sector, according to group Chairman Yoon Jong-kyoo, as reported by The Korea Times on Jan. 2. Woori Bank also plans to pursue M&A deals, starting with an asset management company, said CEO Sohn Tae-seung.
Hana Financial Group Inc. may expand its securities unit or Hana Life Insurance Co. Ltd., said the company's chairman, Kim Jung-tai.
For its part, Shinhan Financial Group Co. Ltd. is looking at the brokerage and nonlife insurance sector as its brokerage unit, Shinhan Investment Corp., is relatively small and lacks a nonlife insurance unit.
Below is a snapshot of January reports of possible deals compiled by S&P Global Market Intelligence.

Shinhan Financial is also looking abroad to Southeast Asia for more deals, joining other South Korean financial groups seeking to expand in that region amid shrinking growth and profitability at home.
Shinhan Financial is eyeing more acquisitions in Vietnam, after it closed a deal for Australia & New Zealand Banking Group Ltd.'s retail business in country, The Korea Times reported Jan. 3. Further, Industrial Bank of Korea is reportedly close to striking deals for two Indonesian banks, the South Korean lender's first acquisition outside its home market. NongHyup Financial Group Inc. is near a deal to acquire a microfinance company in Cambodia and hopes to use its expertise in agricultural financing to expand further in Southeast Asia.
Meanwhile, Taiwan's Fubon Financial Holding Co. Ltd. is also exploring deals in the banking, insurance and securities sectors in China, Southeast Asia and Taiwan, United Daily News reported Jan. 9. The company's president, Jerry Harn, said M&A deals in the securities sector would have the greatest growth potential. While the company wants to expand its presence in Southeast Asia, the company is not shutting the door on potential transactions in Taiwan, Harn said.
But in Indonesia, PT Bank Mandiri (Persero) Tbk is taking a different tack from its regional peers as it will now focus on domestic growth rather than chasing overseas deals. Bank Mandiri has decided to shelve acquisition plans in the Philippines, Bret Ginesky, head of investor relations at the Jakarta-based bank, told S&P Global Market Intelligence.
"We are pausing on [international] M&A. ... We will readdress these plans in the future," Ginesky said. He added that capital reallocation was why deals in the Philippines, where the bank had conducted due diligence on two Philippine lenders in 2017, had been called off. The bank is also scaling back on its Malaysia expansion plans, where it will now "grow more slowly," Ginesky said.
However, the bank will be eyeing large and medium-sized banks in Indonesia as it is now a good time to acquire other banks. Ginesky said some local lenders have been struggling in the home market, which could make them good bargains in terms of valuations.
Meanwhile, the Australian insurance sector was abuzz about a number of potential deals. Suncorp Group Ltd. has resumed the auction for its life insurance operations, The Australian Financial Review reported Jan. 17. The insurer is expected to open a data room for the sale and final bids are expected in March. Several foreign parties are said to be interested in the sale, including China's Fosun International Ltd., U.S.-based American International Group Inc. and Japanese insurers MS&AD Insurance Group Holdings Inc., Meiji Yasuda Life Insurance Co. and Dai-ichi Life Holdings Inc.
Suncorp's life insurance operations is not the only Australian asset that AIG is interested in. The U.S. insurance giant is also reportedly interested in Commonwealth Bank of Australia's general insurance arm as it considers building up its presence in the country, The Australian Financial Review reported Jan. 12.
CBA is reportedly weighing its options regarding the general insurance options and may sell or outsource the operations, The Australian Financial Review's Street Talk blog reported Jan. 10. The bank may start on the process later in 2018.
CBA may also sell its majority stake in its Indonesian insurance venture, PT Commonwealth Life, Reuters reported Jan. 11. The Australian lender is in talks with several investment banks and a potential deal could value the Indonesian insurer at between US$200 million to US$250 million.
Further articles about other deal possibilities:
Report: Arab Bank seeks to sell Australian unit
Heartland Bank revives interest in UDC Finance
Report: Chinese state-owned investor looking to take stake in Anbang
Report: MetLife eyeing sale of Hong Kong biz
Report: Abu Dhabi fund weighing sale of 17.8% stake in RHB Bank
UBS Group seeks to buy majority stake in China securities JV
Pakistan invites investors to conduct due diligence on SME Bank
India-focused private equity firm to buy stake in Fedbank Financial Services
Report: SoftBank in talks for stake in Indian insurance startup
Report: Deutsche Bank in talks to sell retail biz in India
Report: ERGO International, Manulife Financial mull stake in IndiaFirst Life
Report: Bank of Baroda eyes sale of banking unit
Report: IDFC Bank exploring merger with Capital First
Report: Moven looking to buy US bank, form Japanese JV
