NEW HORIZONS: The firm, which has posted healthy earnings this year, said buying a life insurer would boost profits, while Internet activities could draw younger clients

Taipei Times
Date: Sep 15, 2018
By: Crystal Hsu  /  Staff reporter

State-run Mega Financial Holding Co’s (兆豐金控) earnings momentum remained healthy through the first two months of the third quarter, after a modest pickup in the first half of the year, thanks to improving loan demand, as well as fee and investment incomes, it said yesterday.

The bank-focused conglomerate expressed interest in acquiring a life insurance company to widen its activities, but added that it would be difficult to find friendly targets in Taiwan, despite policy encouragement from the government.

“The absence of a life insurance subsidiary is the main reason Mega Financial lags behind the nation’s top three financial conglomerates in profitability and assets,” Mega Financial president David Hu (胡光華) told an investors’ conference in Taipei, referring to Cathay Financial Holding Co (國泰金控), Fubon Financial Holding Co (富邦金控) and CTBC Financial Holding Co (中信金控).

Cathay Financial and Fubon Financial both achieved earnings of NT$4 per share in the year through last month, compared with NT$1.54 for Mega Financial.    [FULL  STORY]