Korea insurer buys shares in Lending Club, views loans that are p2P brand new alternative
By Oct 19, 2016 (Gmt+09:00)
Southern KoreaвЂ™s Hanwha Life Insurance Co. Ltd. has purchased a 4.1per cent stake in U.S. Lending Club Corp., the worldвЂ™s biggest peer-to-peer (P2P) loan provider, for about 75 billion won ($67 million) on the market, because it is wanting to develop P2P loans as a unique alternate asset class and break right into the nascent fintech market.
The life span insurer began purchasing stocks in Lending Club noted on the brand new York stock market from June, business sources stated on Oct. 17. Aided by the share https://title-max.com/payday-loans-mt/ purchase, Hanwha Life in addition has entered in to an alliance that is strategic the U.S. mortgage lender that offers an on-line platform to complement borrowers straight by having a pool of borrowers.
Hanwha lifestyle and Hanwha resource Management Co. Ltd. is going to make a pilot investment in loans originated by Lending Club in 2010.