Samsung Life mulls putting Samsung Fire under its wing as subsidiary

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Samsung Life mulls putting Samsung Fire under its wing as subsidiary - Korea Economic Daily

Quick Summary:

Samsung Fire’s shareholders are also stand to benefit, as a subsidiary plan would alleviate concerns over possible share overhang, sources said.“If Samsung Life sells its stake in Samsung Fire in the market, Samsung Fire’s value-up initiative could lose its intended effect,” said an industry official.

By incorporating Samsung Fire as a subsidiary, Samsung Life aims to resolve such legal issues and enhance shareholder value for both companies, people familiar with the matter said.On Jan.31, Samsung Fire said in a regulatory filing that it plans to lower its treasury share ratio from the current 15.93% to below 5% by 2028.

Given that Samsung Fire generates an annual net profit of between 2 trillion won and 3 trillion won ($1.4 billion-$2.1 billion), Samsung Life would see an additional annual gain of 300 billion–400 billion won on the bottom line if the non-life insurer becomes a subsidiary.