NH Agricultural Life & General Insurance, Global Cooperative Insurance and then expand cooperation

[Korea gimmingyeong financial newspaper reporters - national representative of the cooperative insurance cooperatives NH NH life and non-life insurance cooperatives sets out to expand the global network. Secretary Rod NH Agricultural Life CEO, yiyunbae NH Agricultural Insurance CEO, including the companies represented are April 28 Seodaemun headquarters in ICMIF (International Cooperative and Mutual Insurance Federation, International Cooperative Insurance Federation) Bureau and talks have cooperative based insurer liver It vowed agreed to strengthen friendship and promote cooperation.

ICMIF is the insurance sector agencies of ICA (International Co-operative Alliance), which holds 227 member companies around the world 71 countries. He was a member of the ICMIF Agricultural production  fiddling 1969. NH currently being carried Agricultural Life 4 directors serve as members of the eight largest (based on premium income) of the entire world combined cooperative insurers.

This time my room one ICMIF side key personnel Hilde Fernand and Ellen (Hilde Vernaillen) chairman, Sean tabeok (Shaun Tarbuck) Secretariat, the nose and the Hiroko AOA (ICMIF Asia / Oceania regional associations) Secretary General, etc., and show Zuiho other Motsu Japan the CEO jeongongryeon (national Association of deductions) came along.

In particular, Japan jeongongryeon AOA president signed the NH Agricultural production  promised regular basis and non-life insurance exchanges and decided to hold a joint seminar in the first half of product development. In the long term, the exchange plans to introduce a training system and also conduct joint research prepared for the response of the insurance environment and institutional change.

Secretary Rod NH Agricultural Life CEO is a crisis of "ICMIF members reaffirm their public interest function of inter-cooperative insurance through the exchanges and will promote differentiation," said "particularly low growth, low interest rates and aging that shut blow to the domestic insurance market prior experience of working closely with Japan to jeongongryeon said it would force an insurance that can flexibly adapt to changing market conditions. "

NH cooperatives, etc. Life is planning deunopil its position as the nation's largest cooperative insurer that according to the schedule this winter Bureau supports the overall process of registering new ICMIF Federation of credit unions sector deductible.



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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.



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