Korea Life Insurance has submitted an application to list its shares on the Seoul main bourse, the bourse operator said Friday.
South Korea's third-largest life insurer by market share handed in the application on Wednesday to conduct its initial public offering (IPO), which will be arranged by Daewoo Securities Co., according to the Korea Exchange.
Korea Life Insurance booked 83 billion won (US$70.6 million) in net profit in fiscal 2008 that ended in March 2009, with its equity capital at 3.6 trillion won, the exchange said.