DB Insurance, Q1 Net Profit 190.2 Billion KRW... Up 38.2% YoY
[Asia Economy Reporter Ki Ha-young] DB Insurance announced on the 13th that its separate basis net profit for the first quarter of this year reached 190.2 billion KRW, an increase of 38.2% compared to the same period last year. Operating profit for the same period rose 48.7% to 265.5 billion KRW.
Revenue (gross written premium) was recorded at 3.6412 trillion KRW, up 8.1%. The combined ratio (loss ratio + expense ratio), which measures insurance business efficiency, improved by 1.9 percentage points from 104.8% to 102.9% during the same period.
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DB Insurance explained, "The long-term decline in automobile insurance loss ratios due to COVID-19 has continued, and investment returns have improved thanks to a favorable stock market, resulting in a significant increase in net profit and operating profit compared to the previous year."
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