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사진=삼성생명 |
[Alpha Biz= Kim Jisun] Samsung Fire & Marine Insurance has completed its share buyback on April 30 and has officially become a subsidiary of Samsung Life Insurance.
On April 19, the Financial Services Commission (FSC) approved Samsung Life's acquisition of Samsung Fire as a subsidiary. Following this, on May 1, Samsung Fire's board of directors approved the cancellation of 1,363,682 common shares and 92,490 preferred shares, worth a total of approximately 5.126 trillion won.
With the completion of the share buyback, Samsung Life's stake in Samsung Fire increased from 14.98% to 15.43%. This move has triggered the legal effect of the subsidiary transfer under the Insurance Business Act. The subsidiary transfer was conducted in line with the insurance industry's strategy to enhance corporate value, while ensuring compliance with regulatory thresholds.
Samsung Fire has stated that the acquisition by Samsung Life will not affect its management strategy or business operations. Financial authorities have clarified that this is a simple procedure for adjusting shareholding and that it will not have significant impact on the management structure of Samsung Fire.
Additionally, on April 22, Samsung Fire unveiled its innovative product, 'Protection Account', at the industry’s first 'Unpack Conference'. Set to launch in May, the Protection Account offers lifelong insurance benefits tailored to treatment needs, with features like seamless medical costs, health returns, and hospital accompaniment, all while aiming to reduce premiums by 60%.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
