MG Non-Life Insurance’s third attempt to secure a new owner has failed, highlighting concerns over its financial health. Samjong KPMG, advising the sale, confirmed that no bidders attended the final round on Friday, despite interest from local Dayli Partners and US-based JC Flowers in earlier stages. The insurer, ranked 10th in the country and primarily owned by JC Partners with a 95.5% stake, was declared insolvent by the Financial Services Commission in April 2022, leading to Korea Deposit Insurance Corporation’s (KDIC) management of its sale. Previous biddings also saw no success, largely due to the insurer’s poor financial stability, with a current solvency ratio of just 43%. The KDIC may now consider liquidating the company after this latest unsuccessful sale attempt.