E.Sun to buy Mercuries Life, become Taiwan's 5th-largest listed FHC

Taipei, Nov. 5 (CNA) E.Sun Financial Holding Co. announced Wednesday that it will acquire Mercuries Life Insurance Co. through an all-share deal, a move that will boost its total assets to more than NT$5.8 trillion (US$187.63 billion) and make it Taiwan's fifth-largest listed financial holding company (FHC).

Under the agreement approved by the boards of both companies, E.Sun will swap 0.2486 of its shares for each Mercuries Life share, equivalent to NT$8.2 per share based on E.Sun's 60-day average closing price of NT$32.99 as of Nov. 5.

With Mercuries Life's 5.8995 billion outstanding shares, the total transaction value is estimated at around NT$48.3 billion.

Upon completion, Mercuries Life's roughly 91,000 domestic and foreign shareholders will hold about 8.31 percent of E.Sun's shares.

The merger still requires shareholder approval at a meeting scheduled for Jan. 23, 2026, and regulatory clearance.

E.Sun said the acquisition will create a platform with three core profit engines -- banking, insurance and securities -- by integrating its banking, securities and investment trust units with Mercuries Life's life insurance network.

The combined group plans to expand its high-value customer base, enhance wealth management services and strengthen investment efficiency through coordinated research and portfolio management.

Following the merger, E.Sun's assets are expected to rise from NT$4.2 trillion to more than NT$5.8 trillion, moving it from 10th to fifth among Taiwan's listed financial holding firms, and sixth overall including unlisted Taiwan Financial Holdings.

Addressing concerns that the share-swap could limit future dividends, E.Sun Chairman Joseph Huang (黃南州) said the company paid NT$1.2 per share last year and reported after-tax profit of NT$29.33 billion in October, a 31 percent year-on-year increase.

He said E.Sun intends to maintain cash dividends as the main payout method, though the final decision rests with the board.

Wang Chih-hua (王志華), spokesman for Mercuries & Associates Holding Ltd., Mercuries Life's parent company, described the deal as a strategic milestone benefiting shareholders, policyholders, employees and Taiwan's insurance market.

Mercuries Life spokesperson Lin Pi-hua (林碧華) said the insurer, operating for 32 years with a reputation for stability and integrity, expects strong synergies from combining its life insurance expertise with E.Sun's financial integration, technology, and customer service capabilities.

She added that policyholder rights and employee benefits will be fully protected.

Following Wednesday's announcement, trading in shares of E.Sun Financial Holding, Mercuries Life Insurance, and Mercuries & Associates Holding that was halted Wednesday will resume when the market opens on Thursday.