NongHyup Life Insurance Conducts 200 Billion KRW Paid-in Capital Increase... RBC Expected to Exceed 200%
[Asia Economy Reporter Oh Hyung-gil] NH Nonghyup Life Insurance announced on the 27th that it will conduct a paid-in capital increase worth 200 billion KRW.
The paid-in capital increase involves 6.25 million new registered common shares, which will be fully subscribed by Nonghyup Financial Group, the largest shareholder, through a shareholder allocation method.
Through this capital increase, Nonghyup Life Insurance plans to strengthen its capital base to improve financial soundness and respond to the implementation of new financial soundness regulations.
As of the first half of this year, Nonghyup Life Insurance's solvency capital ratio (RBC) stood at 193.7%, and it is expected to exceed 200% after the paid-in capital increase.
Hong Jae-eun, CEO of Nonghyup Life Insurance, said, "This is to enhance capital soundness by increasing available capital," adding, "We will establish a mid- to long-term growth foundation by strengthening the management system to improve financial indicators and investment returns."
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