Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Alec is currently a partner in KT Capital Group and serving as the Chinese shareholder representative of a public P&C insurer in Kazakhstan/Central Asia. 

Previously, he served as the Research & Investments Partner at Re:base Ventures (rebase.vc), a Web3 and DeFi investment firm with a strong focus on building and incubation. 

Before that, he spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). 

Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. 

He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totaling >$5 billion. Alec started his career with Bank of America Merrill Lynch.

Fintech & EM-focused Analyst

New China Life: The Company’s Latest Strategy Is Taking It Nowhere

Private Capital Markets

Kyobo Life Insurance Co Ltd / Private Capital Markets

<ul>
<li>News and rumors about a potential IPO of <a href="https://www.smartkarma.com/entities/kyobo-life-insurance-co-ltd" target="_blank" data-smartkarma-citation="entities:33146:1" rel="noopener">Kyobo Life Insurance Co Ltd (KYLINZ KS)</a> resurfaced given the strong performance of the equity market in Korea.</li>
<li>Korean life insurance's sector outlook remains uncertain given the country's prolonged low interest rate environment and the upcoming regulatory and accounting standard changes.</li>
<li> Kyobo Life's current shareholding structure is dominated by private equity and other institutional investors which are actively looking to exit.</li>
<li>Its implied value per share based on peers' trading multiples is unlikely to generate a decent recent for these institutional investors.</li>
<li>Kyobo Life's IPO plan remains very challenging.</li>
</ul>


News and rumors about a potential IPO of Kyobo Life Insurance Co Ltd (KYLINZ KS) resurfaced given the strong performance of the equity market in Korea.
Korean life insurance's sector outlook remains uncertain given the country's prolonged low interest rate environment and the upcoming regulatory and accounting standard changes.
 Kyobo Life's current shareholding structure is dominated by private equity and other institutional investors which are actively looking to exit.
Its implied value per share based on peers' trading multiples is unlikely to generate a decent recent for these institutional investors.
Kyobo Life's IPO plan remains very challenging.


Kyobo Life: Challenging Sector Outlook with Most Existing Shareholders Hoping to Get Out