Mirae Asset Life Insurance buys 5 million of its shares
Mirae Asset Life Insurance buys 5 million of its shares
  • Kim Min-jee
  • 승인 2020.01.31 11:33
  • 댓글 0
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Courtesy of Mirae Asset Life Insurance

Mirae Asset Life Insurance said it will buy 5 million of its shares on Jan. 30. The company will make a three-month purchase from Jan. 31 to April 29. 

Mirae Asset Life Insurance said it is expected to raise its shareholder value from a mid- and long-term perspective through a series of shareholder redemption policies until the purchase, following the purchase of 1.7 million shares in 2015 and 5 million shares in 2018.

Mirae Asset Life Insurance has been expanding its two-track sales of its high-yield product line of variable insurance over the past six years, with stable operating fees occurring.

Through its high-yield portfolio and stable Fee-Biz business structure, the company is evaluated to have secured profitability and stability at the same time and laid the foundation for internal management.

In particular, the company currently has the highest special account weight in the industry based on its differentiated variable insurance competitiveness.

As of October 2019, Mirae Asset Life Insurance ranked first with 40 percent of its assets in special account to total assets of insurers with total assets of 30 trillion won or more, according to the Korea Life Insurance Association. The figure is far ahead of the nation's mid- to large-sized life insurance companies, which stay in the 10 percent range.

Special accounts are able to generate additional revenue from flexible asset operations along with commission revenues that occur stably if their performance and operational capabilities are supported.

Currently, Mirae Asset Life Insurance has the brightest outlook in the industry through 40 percent of its unique special accounts.

Chung Tae-joon, a researcher at Yuanta Securities, positively evaluated on Jan. 20 that Mirae Asset Life Insurance has a smaller proportion of its high-interest savings insurance and is composed of special assets centered on low-interest variable annuity, indicating better profit stability than other companies.

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