Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Alec is a partner in KT Capital Group and the Chinese shareholder representative of a large, listed 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

Lifenet: A Rejuvenated InsurTech Story in Japan

Lifenet: "Platformization" To Potentially Drive the Next Phase of Growth

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

Lifenet Insurance Company / Equity Bottom-Up

<ul>
<li>Oasis Management has become a major shareholder in Lifenet in November. Together with another activist investor, Effissimo Capital (the largest shareholder), they now control &gt;30% of the company.</li>
<li>Company announced some new partnerships/initiatives to drive growth but they don't seem to be materially different from what it has been doing to turn around its declining VoNB.</li>
<li>Unless we can see a sustained trend of improving VoNB, it's difficult to justify the premium valuation vs. the other more established peer.</li>
</ul>


Oasis Management has become a major shareholder in Lifenet in November. Together with another activist investor, Effissimo Capital (the largest shareholder), they now control &gt;30% of the company.
Company announced some new partnerships/initiatives to drive growth but they don't seem to be materially different from what it has been doing to turn around its declining VoNB.
Unless we can see a sustained trend of improving VoNB, it's difficult to justify the premium valuation vs. the other more established peer.


Lifenet: Oasis Management Is Now Another Major Shareholder Besides Effissimo