Updated Saturday, February 11, 2012 0:03 am TWN
Article from The China Post
Mercuries Life Insurance (MLI) was listed on Taiwan's emerging stock exchange at a price of NT$20 on Thursday, becoming the first insurer in Taiwan to get listed on the platform for emerging stock trading.
The listing was advised by Taishin Securities.
MLI provides complete and comprehensive insurance services and offers life, health, annuity and investment-linked policies. In 2011 the firm had total premium revenue of NT$95 billion, the seventh highest among insurers.
MLI was founded in 1993 and currently has capitalization of NT$10.8 billion, with more than a 50-percent stake held by Mercuries Corp. MLI has staff size of 12,000, with diverse, wide-ranging sales channels to serve its more than 1.7 million customers.
MassMutual, which has a history of over 100 years, entered the picture in 2001 and signed a strategic partnership agreement with MLI. Over the past ten years MassMutual has provided its knowledge and expertise to help MLI further internationalize and connect with the rest of the world.
Last year, MLI had unaudited net profit of NT$800 million and earnings per share of NT$0.75, an increase of 158 percent and 142 percent, respectively, from 2010 and better than many of its peers, despite a tough and challenging external environment.
From now, MLI will continue to use a stable and flexible asset investment strategy to ensure steady revenue streams and profitability, in the midst of the European debt crisis.
Article from The China Post
