Shinhan Life Insurance Co. is pursuing alternative investments to capitalize on global uncertainty and strengthen its position in South Korea.

The company, which manages 60 trillion won ($42.2 billion) in assets, is seeking to become one of Korea’s top two life insurers. While Samsung Life Insurance Co., Kyobo Life Insurance Co., and Hanwha Life Insurance Co. dominate the market, Shinhan Life aims to disrupt the landscape through a more aggressive asset management strategy.

Traditionally, Korean life insurers have followed passive approaches, focusing heavily on long-term bonds to secure annual returns of around five percent. Shinhan Life plans to move toward alternative investments more actively.

“Companies are increasingly turning to the secondary market as they no longer have the capacity to hold onto assets they previously invested in,” said Koo Do-hyun, head of asset management division, in a recent interview with Maeil Business Newspaper.

“We will closely examine whether there are opportunities to acquire such assets at more favorable prices.”

Despite heightened volatility in the Korean won and lingering uncertainty following trade tensions sparked by former U.S. President Donald Trump, Shinhan Life sees opportunities to acquire undervalued assets in areas such as real estate and infrastructure.

The company’s partnership announced in November with U.S. private equity firm Apollo Global Management Inc. reflects this approach.

Apollo manages about 1,000 trillion won in assets and leads the global market for private credit funds, which raise capital from investors to lend to companies.

Life insurers must invest premiums over long periods of ten to twenty years before paying out benefits. Apollo’s private credit investments, offering relatively long maturities and yields of around ten percent, fit well with insurers’ asset-liability matching needs.

Apollo also has an insurance affiliate, Athene, giving it deep industry insight and a structured framework to determine investment strategies and capital sourcing for insurance companies.

Koo said the company plans to pursue further partnerships with other global asset managers.

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