Meritz Financial Group Fully Subsidiarizes Fire and Securities Units... Returns 50% of Net Profit to Shareholders
Active Response to Rapid Environmental Changes... Efficient Capital Allocation for Stable Profit Generation
Exerting Organic Financial Flexibility Across the Group... Maximizing Synergy Among Affiliates and Swift Decision-Making
[Asia Economy Reporter Lee Seon-ae] Meritz Financial Group is making Meritz Fire & Marine Insurance and Meritz Securities its wholly owned subsidiaries.
On the 21st, Meritz Financial Group announced a comprehensive stock exchange to make Meritz Fire & Marine Insurance and Meritz Securities its wholly owned subsidiaries.
Meritz Financial Group stated, "Due to the rapid expansion of volatility in the financial market and increased uncertainty in future investments, we decided to actively respond to changes in the business environment and generate stable profits."
The company expects that through this decision, it will be able to demonstrate organic financial flexibility across the group by efficiently allocating capital based on the stable profitability of both Meritz Fire & Marine Insurance and Meritz Securities. Additionally, by combining Meritz Securities' deal sourcing capabilities (discovering potential investment companies) with Meritz Fire & Marine Insurance's long-term investment structure, it plans to maximize synergy effects among affiliates. It also anticipates establishing a stable and efficient management system by simplifying decision-making through resolving conflicts of interest among shareholders.
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Meritz Financial Group has decided to strengthen shareholder value enhancement as stable and continuous shareholder return policies become possible through increased capital efficiency and improved profitability. From next year, the integrated Meritz Financial Group will adhere to the principle of returning 50% of consolidated net income to shareholders, including dividends and share repurchases and cancellations. This level exceeds the average shareholder return rates over the past three years for each company (holding company 27.6%, Fire & Marine Insurance 39.7%, Securities 39.3%). Meritz Financial Group plans to maintain this proactive shareholder return policy for more than three years.
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