Hanwha Insurance, gwonjabon can then zoom ... Capital increase plan yet

[Korea gimmingyeong financial newspaper reporter] Hanwha General Insurance embarked on a gwonjabon be expanded to strengthen the financial regulatory authorities, conscious of the RBC.

Announced a shareholders' meeting be held next month, and 27 days notice fiddling Hanwha has assumed the Articles of Incorporation to change the agenda to increase the number of shares from 200 million shares to 300 million shares gwonjabon.

Gwonjabon refers to the number of shares or the total jugeum to increase the Board of Directors authorized a new share issue is described in the articles of association require shareholders' approval.

Hanwha is've been fiddling 1 billion issued shares of 21.69 million shares already issued state capacity of approximately 80 million shares (par value of 400 billion won criterion) remains. But ahead of the IFRS17 reportedly introduced in 2021 as part of a capital raising to expand the scope in case if the pace to strengthen the financial regulatory authorities Spiral RBC this year.

Behind these moves is the seat of Hanwha Insurance and recapitalization issues emerged throughout the insurance industry. Insurers should align to the expanding regulatory authorities, strengthen financial liability duration is released in preparation for release in the first half of this year IFRS17 gijunan.

Hanwha fiddling especially the end of last year, RBC (solvency ratio) is transmitted to the Financial Supervisory Service recommended level situations that require additional recapitalization close to 150% While some view was also out that "the impending capital increase will ahninya.

Hanwha Insurance officials about this, there is no immediate plan to increase 'shareholder meeting is usually held once a year because it will increase the range of this opportunity "said he said.

Following the last Hanwha fiddling 2011 to June 2012, it issued the subordinated debt of 90 billion won was expanding scale of capital. 2013 was forced to end capital increase of 157.08 billion won scale, even though the issue price of less than par value, issued in June last year subordinated debt of 1280 billion. The count of more than 410 billion won in 2010 after the recapitalization yirwojin.

Most insurance companies will raise capital, except for Samsung F & M as a common issue in the insurance industry have been filled with treasures such as subordinated debt issued by way of rights issue or. Dongbu recently conducted a one-year results presentation (IR) 2016 also, in case the RBC ratio declined due to interest rate hikes are considering issuing subordinated bonds "and has said.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

Hanwha Insurance, continuous dividend two years ... 9.1 billion size

[Korea gimmingyeong financial newspaper reporter] said it conducted a second consecutive year dividend according to Hanwha General Insurance improved performance this year was carried out in dividends last year, only 19 years.

Hanwha fiddling posted 27 days they performed a dividend of about 91 billion won. Dividend per week is $ 0.10, dividend yield is 1.4% and the consolidated financial statements dividend payout is 8.1%. Dividends per week compared to last year's dividend yield is increased and 30 won has risen 0.5 percent dividend payout ratio rose 1.2 percentage points.

While fiddling about that Hanwha 'was conducted in two consecutive years after the dividend last year, according to the improved performance,' he explained, 'it for shareholder value. "



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

[Weekly market funds - KOSPI 200 futures index fund leverage Hanwha top ↑ ...

[Korea hyerin nine financial newspaper reporter] Fourth week of February leverage funds KOSPI 200 index futures are rising beat excellent performance.

According to the fund rating agencies epeuaen Guide 24-day domestic equity recorded a 1.16% weekly return of 0.08 points below the yield BM (KOSPI TR, 1.24%) and maintained a continuous positive returns in two weeks.

Active fund returns (0.97%) fell short compared to index funds (1.44%). Details to type while the chemical sector stocks active in the sluggish flow of the energy sector due to the excellent performance of leveraged funds in the stock index KOSPI 200 futures index rose 1.47 percent recorded the other showed a relatively low flow to 0.75%.

AUM 10 billion won or more domestic equity funds (excluding ETF) among the 'Hanwha 2.2 times leverage index securities investment trust (equity-derivative ingenuity foldable) Category A' of one is above the index stocks other day type yield (1.47%) 1.83% points 3.30 recorded% of yield.

Followed by 'NH-Amundi Korea twice leveraged securities investment trusts - equity - derivatives] ClassAe', 'KB Star Korea leverage 2.0 Securities Investment Trust (equity-derivative) A Class',' one UBS Power 1.5 times leverage index securities investment trust [CO-derivative] ClassC 'recorded a performance of 2.84%, 2.57%, 2.24%, respectively.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

Uncertainty decreases as Hanwha, Hanwha International eliminate risk - Shinhan geumtu

Kept the [financial newspaper goyounghun Korea News] Shinhan Investment Corp. Hanwha Hanwha elimination of risk due to foreign price target to reduce uncertainty BUY saying is ₩ 47,000 for 24 days.

Hanwha surplus transition to the fourth quarter of last year, the operating profit of 155.8 billion won, but fell short of consensus of 287.7 billion won.

Shinhan Financial Investment imhuiyeon researchers "Hanwha solar and other sectors operating losses and Hanwha Life of variable life insurance guarantee reserves 178 billion won additional accrual, scale 70 billion won of Hanwha one-time costs associated with conservative accounting treatment for such a poor performance factors "and" While manufacturing and trading business were in line with estimates of sales 1.4 trillion won, operating profit of 50.9 billion won, "he said.

Im researchers "Hanwha has three years but also positive to overseas risks relieve overseas plant delay compensation reduction phase a successful turnaround in," said "the second half of the year reflect the Mara Hanwha is expected the peak and Yanbu 2 Completion delay compensation is estimated at about 72 billion won, "he said.

This was also diagnosed dwaetdago ensure revenue recognition visibility of nearly 12 trillion won to collect the new town construction in Iraq Mayan service payments $ 560 million (approximately 680 billion won) by 2020.

He added, "The stable sales in Saudi Arabia related to delayed compensation for reduction of the Hanwha and Iraq bis Mayan New City Corporation payment collection, etc. is expected" and "earnings of major subsidiaries such as record-high profits of Hanwha Chemical in accordance with the flagship product prices are forecast "he said.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

Hanwha life, far from the only way to go negative margin risk mitigation expectations - Shinhan geumtu

It was [Korea goyounghun financial newspaper reporter] Shinhan Investment far only way to go for 24 days Hanwha Life negative margin is expected doendamyeo risk mitigation target price of short-term BUY recommendation is to keep 7300 won.

4Q11 Earnings Hanwha individual life lasted a deficit pretax profit -403 million. Net income was also lower than both our estimate and the consensus -303 million.

Shinhan Investment hands unknown researcher "Suicide claims paid one-off costs of dwaeteumyeo additional variable insurance guarantee reserves that are commonly reflected in the end the industry annually earn reflects 178 billion won bonus payment of about 350 billion and approximately 20 billion won was also there," said "Last year 10 risk of negative margin thanks to a life insurance company to a global rebound since March has entered the interest rate easing trend, "said diagnosis.

If interest rates are kept at the current level it is expected later this year will reduce variable insurance guarantee reserves earn additional burden.

Was hand-researcher "negative margin risks of October last year after thanks to global interest rates rebound life insurer has entered the easing trend" and "solvency ratio (RBC) regime headwinds last year, the third quarter of 289.8% of the enhanced interest rates and a rebound RBC He explained that the review of the rate hybrid capital securities of the scale corresponding to 500 billion won to 200.4 percent plunge into the end of the year. "

He continued to consider including "The recent trend increases the possibility the United States in March rate hike are mitigated negative margin risk as interest rates rebound is positive," said "negative spread burden is still serious, but two shareholder stake possibility of a Deposit Insurance Corporation were reiterate, "he said.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

Sigh turned sinchangjae Kyobo Life President ... Samsung, Hanwha life difficult for reappointment

[Korea gimmingyeong financial newspaper reporter] Financial Supervisory Service issued a warning about the censure of President chanamgyu 23 days of the sanctions Committee Kim, Chang - Su Samsung Life Insurance to commit suicide does not pay on time and in agreement with the president of Hanwha life. Finance company CEO received a warning censure is impossible to fill the remaining term of office after two terms.

Simwi the first few hours ahead of the announced paid in full the accrued suicide sinchangjae chairman of Kyobo Life Insurance has issued a warning liberal measures for the gyeongjinggye.

FSS is discussed at the end of the day more than 8 hours Samsung, Hanwha, Kyobo voted for sanctions on such life-CEO of three. Warning Warning liberal censure and a decision is likely to change because jinungseop confirmed by the Financial Supervisory Service jeongyeol is less that the industry is still believed.

FSS so that you can also sell products guaranteed to ensure the disaster killed these three companies during 1-3 months suspension made some sales.

FSS for sanctions reasons if the insured committed suicide in the last 2 years later from liability date the Terms although described as being the Accidental Death Benefit Payments did not pay the insurance money intentionally, the insured beneficiary to disaster death benefit claim for insurance payments were also did not explain, "she explained reasons.

If Samsung Life Insurance and Hanwha boss Kim, Chang - Soo life chanamgyu censure of the president warning that confirmed their reappointment becomes impossible. Samsung Life is opening the same day, the Board determines the reappointment of President Kim, Chang - Soo, but the next term of office in accordance with the 'mouth' of the day, the FSS is made opaque.

The term of office of the president of Hanwha Life chanamgyu kkajida March next year. In the meantime, however, the financial company's CEO received a warning censure is reportedly less if I retreated to fill even the term.

Hastily given the 'risk owners' decision to commit suicide Kyobo Life insurance pays a mere gyeongjinggye. Insurance industry officials have predicted that "would have influenced the decision to lower the water level to sanction suicides insurance payment day for the reappointment of the chairman sinchangjae owner managers. Kyobo Life sinchangjae not be re-elected as president if the owner CEO who served almost 20 years has gotta expected to be a major blow to management stability.

Samsung Life Insurance and Hanwha life insurance suicide over the statute of limitations according to the Supreme Court, which has reportedly taken a position that you do not have to pay. The industry also expects these insurers to review such complaints.



Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com

Hanwha Chemical, up youngeopik year ever recorded

[Korea's financial standing hyomun newspaper reporter] Hanwha Chemical posted a record-high earnings olrimyeo an operating profit of 779.2 billion won last year. This previous earnings up to a 131% increase year-on-year figures are in 2010 (655.1 billion won). Sales rose 15 percent to 9.2588 trillion won a year earlier.

Hanwha Chemical dwaetgo its cost stabilizing effect due to the low oil price spread (the raw material price and the price difference) is expanded PE (polyethylene), PVC (polyvinyl chloride), caustic soda, TDI uniform market of (toluene diisocyanate), such as flagship products He explained that improves traction and maximum performance.

PE sector, high content EVA (ethylene vinyl acetate), has improved the profitability in value-added specialty products sales and expanding the composite resin for wire. This was China's domestic PVC prices due to the environmental regulations of the Chinese government pulled the international price increases in operating profit.

China is Asia's largest caustic soda Performance Baseline and reliable operation of the global demand of the exporting country has improved. TDI is the effect of the merger by KPX Fine Chemical, Hanwha Chemical was acquired in 2014 to fruition. The main production company operating the plant at full capacity of 15 million tons of production facilities preemptively in a delayed state of transition, and had large surpluses in business expansion only two years.

Photovoltaic sector exports its subsidiary Hanwha kyusel modules of the size of 1.5 gigawatts (GW) in the US Next Era Energy Inc. and increased the operating profit. Yeocheon NCC, and total earnings of Hanwha reflected in equity income also recorded a 7707 net profit one hundred million won. A 327% increase year-on-year levels are up to past performance.

Meanwhile, the first quarter also continued stable market main product is expected to be earnings. PVC is expected with a strong environmental regulations in China, caustic soda fell growth and utilization of the main producers of global demand and facility closure, TDI also start-up delay of key competitors to continue the international prices.





Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com