[뉴스투데이=김태규 기자] Meritz Securities predicted that the shareholders will expand in the medium and long term in connection with the fact that DB Insurance (005830) decided to acquire the US insurance company Pottegra.
DB Insurance acquired 100%of the US specialized insurance company Potera Group for 2.3 trillion won on the 26th of this month. The acquisition cost will be fully used by its own funds, and the procedure will be completed in the first half of next year.
An official of DB Insurance said, “The need for additional growth engines due to the slowdown in the domestic insurance market has expanded, and it has begun to enter the overseas market for this purpose.”
DB Insurance is expected to decrease by 15-20 percentage points (P) through the acquisition of Potera. DB Insurance expects the K-ICS ratio at 220 ~ 230% at the end of the year.
In the report, Choohae Meritz Securities researcher said in a report that “considering the physical strength of DB Insurance, it is possible,” he said.
Potegra Group has a diversified management manager (MGA) sales channel with efficient sales network and stable sales base. As of last year, annual profits amounted to about 200 billion won, accounting for about 11% of DB Insurance. In the same year, the return on equity capital (ROE) was 26%, ahead of DB Insurance 21%. The RBC ratio (RBC) is also 440%, far exceeding 200%, which is the level of local supervision.
Cho said, “If the reinforcement of the Potechra Group continues to make a continuing profits, it will lead to improvement of DB Insurance’s consolidated profits, which will contribute 2%p to the K-ICS ratio every year.”
Starting with the acquisition of Potegra Group, DB Insurance’s shareholder return policy standards are also expected to change.
The researcher said, “The denominator standard for the 35%shareholder return rate, the target of DB Insurance’s shareholder return policy, is a separate profit.”
