NH issues Agricultural Life, the first half of subordinated debt

It took the emergency recapitalization of insurance companies ahead of the RBC ratio strengthened regulation of financial authorities are effective from [gimmingyeong financial newspaper reporter Korea] June. NH NH Life has decided to temporarily Council issued recently by the 3000 billion of subordinated debt.

According to the insurance industry, the financial authorities have recently notified to the insurer's final inside new solvency system (RBC strengthen regulation) Primary consultation.

The new solvency system is one of the financial authorities to plan for a soft landing IFRS17 introduced in 2021 to strengthen the regulation change the solvency ratio calculation.

Recapitalization was even faster pace of life insurance industry. Hungkuk life recently is reviewing the issue of subordinated bonds worth 100 billion won was turning direction remains permanent. Depending on the interest rates determined based remind the hybrid securities issued by such permanent hold would be a better way to raise capital.

Hanwha Life Insurance is planning to issue a perpetual 5000 billion until next month. Originally it was scheduled to issue later this month reportedly with a considerable amount of time is spent on the approval of the Financial Supervisory Service.

NH NH Life has 27 days to open a temporary Board of Directors approved a subordinated debt issued 300 billion won. Accordingly, such forward through the Sponsor selection represented the FSS report will be issued through a public offering in the second quarter.



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