Dongyang Life Insurance Q3 Net Profit 107.9 Billion KRW... "Stable Growth Centered on Protection Products"

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 12th that its net profit for the first three quarters of this year amounted to 107.9 billion KRW, a 24.8% decrease compared to the same period last year.

Revenue recorded 5.011 trillion KRW, a 1.6% increase compared to the same period last year, while operating profit fell 11.4% to 129.7 billion KRW.

Dongyang Life Insurance explained that it plans to continue stable growth through a protection-oriented business strategy.

Of the earned premiums totaling 3.9424 trillion KRW, protection insurance accounted for 1.742 trillion KRW, expanding by 7.9% compared to the same period last year. Annualized premium equivalent (APE) was 724.1 billion KRW, with protection APE increasing by 8.7% to 380.1 billion KRW.

Total assets reached 35.5718 trillion KRW, up 5.8% from the same period last year, and managed assets increased by 4.9% to 30.776 trillion KRW.

The solvency capital ratio (RBC) achieved 239%, up 21.8 percentage points from the previous quarter, supported by the issuance of $300 million worth of overseas hybrid capital securities in September.

A Dongyang Life Insurance official stated, "We will continue stable growth focusing on risk management and profitability enhancement while maintaining a protection-oriented business strategy."

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