Tong Yang Life Insurance, offering additional potential risks ... The target price ↓ -NH Securities

[Korea goyounghun financial newspaper News] earnings for 13 days NH Investment & Securities Tong Yang is recovering but the price target was down the comments, saying investment risks retained by eliminating the need ₩ 10,800.

Tong Yang Life were recorded in the fourth quarter deficit Meat mortgage losses. Separate premium income last year's fourth quarter was 1.4701 trillion won, 212.6 billion won net loss during the same period.

NH Investment & Securities hanseunghui researchers diagnosed as "qualitative risk factors, such as whether the merger would with Allianz Life is possible this rally should be eliminated," he said "Meat is larger mortgage than expected loan losses."

A dividend per share of oriental life is 200 won (20.4 billion won dividends) and decided to pay 375.2% of net profit.

One researcher "net 2017 net profit recorded 190.5 billion won and is expected to post a record-high profit," he said, "but 2016 end of RBC (solvency) ratio has plummeted QoQ, 71% point to the 182% was still new business margins bichaik increased due to growth in the high single premium savings insurance products is not difficult to see the expansion of core interests, "he said.

The merger also added that in the long run, whether additional capital increase and the possibility of Allianz Life and a lingering risk factors.



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