Hana Life Insurance, 100 Billion KRW Paid-in Capital Increase... "Improving Financial Soundness"
[Asia Economy Reporter Ki Ha-young]Hana Life is strengthening its foundation for long-term growth by increasing its capital by 100 billion KRW.
Hana Life announced on the 26th that it resolved a paid-in capital increase of 100 billion KRW at the board meeting held the previous day, and plans to complete the payment and registration of the capital increase by mid-next month.
As of the end of last month, Hana Life's equity capital stood at 314 billion KRW, and upon completion of this capital increase, it will rise to 414 billion KRW. Consequently, Hana Life's Risk-Based Capital (RBC) ratio is expected to increase from 153% to 200%.
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President Kim In-seok stated, "As a proactive response to the strengthened insurance company soundness regulations, we have laid the foundation for securing a 'medium- to long-term growth base' by enhancing financial soundness."
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