Friday, February 28, 2020
The First Insurer in Korea to be Publicly Traded
To become a global financial leader that creates value and realizes hopes and dreams
The First Insurer in Korea to be Publicly Traded
  • By matthew
  • October 15, 2009, 17:37
Share articles

TYL is pushing forward with its initial public offering, a first for a Korean life insurer. Therefore, FY2008 will be a great opportunity for us to grow into a leading insurer. Once listed on the KOSPI, TYL can receive greater amounts of capital through stock sales, facilitating expansion through voluntary M&As. This will also allow improvements in management efficiency and business performance. Approximately 20 million common shares will be offered at 17,000-22,000 won per share. Trading is expected to commence October 8.

TYL successfully raised 30 billion won from a public offering of 2,333,100 shares. With the increase in capital, the company achieved a stable solvency margin ratio of 217.3% at the end of March 2008, satisfying the basic requirements for an IPO and the risk-based capital (RBC) system.

On the business front, it aims to achieve a 10% increase in business market share by 2012, while emerging as one of the big four industry players. As a leading insurer, it will ensure sustainable growth through balanced growth of marketing channels. At the same time, it will maximize paid-in capital and reorganize profit structure through management. Its more than 7,000 guardian angels will always be right next to customers to protect their happiness.

Tong Yang Life insurance mobilizes its extensive financial network as part of the Tong Yang Group to expertly manage our clients’ assets such as Tong Yang Investment Bank and Tong Yang Investment Trust.

TYL insurance has grown remarkably over the past decade. The company generated 900 billion won in premiums written with assets totaling 1,340 billion won in FY 1996. Ten years later, it recorded 2,400 billion won in premiums written with total assets reaching 8 trillion won.

As of the end of March 2008, Tong Yang Life Insurance maintained a solvency margin ratio of 217%, down by 20% even with the increase requirement amount due to growth in the total amount of insurance. Its steady solvency margin hovered over the 100% requirement set forth by Korea’s Financial Supervisory Service due to the constant growth of retained earnings.

TYLI shares the joy of birth with its customers. TYL, a leader in children’s insurance, ensures the health and happiness of children through the establishment of diverse product portfolios, ranging from basic coverage to savings.