E.Sun Financial chairman Joseph Huang (黃男州) said the deal is aimed at boosting the group’s long-term earnings profile rather than delivering an immediate boost to profitability. E.Sun Financial Holding Co chairman Joseph Huang, left, and Mercuries Life Insurance Co chairman George Wong attend a news conference in Taipei on Nov. 5 last year. Upon completion, Mercuries Life would be rebranded as E.Sun Life Insurance, marking a significant expansion of E.Sun Financial’s presence in Taiwan’s increasingly competitive financial services market, which is undergoing consolidation amid tighter capital and regulatory requirements. The Mercuries Life meeting lasted 20 minutes and concluded without objections, as more than 90 percent of votes cast were in favor of the deal. Once completed, Mercuries Life would become a wholly owned subsidiary of E.Sun Financial, giving the group a long-sought life insurance arm to complement its core banking and securities businesses.
