Mirae Asset Life Insurance Reports H1 Net Profit of 70.7 Billion KRW, Up 8.5% YoY

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] Mirae Asset Life Insurance announced on the 13th that its net profit for the first half of the year increased by 8.5% compared to the same period last year, reaching 70.7 billion KRW.

Sales amounted to 1.8244 trillion KRW, a 3.3% increase from the same period last year, and operating profit rose 19.5% to 90.2 billion KRW.

Mirae Asset Life Insurance, which has prepared a portfolio focused on protection-type insurance and variable investment products, reported that the total new contract APE (Annualized Premium Equivalent) for the first half of the year was 304 billion KRW, a 37% increase compared to the same period last year.

The protection-type APE was 167.3 billion KRW, up 49% from the same period last year, and variable investment products also increased by 29% to 136.7 billion KRW.

Ham Man-deok, Vice Chairman of Mirae Asset Life Insurance, said, "We have steadily implemented a two-track strategy that secures both stability and profitability, establishing a sound asset structure and a foundation for long-term growth." He added, "By actively responding to changes and simultaneously creating qualitative results, we have developed competitiveness that is best optimized for regulatory changes."

This content was produced with the assistance of AI translation services.