Dongyang Life Insurance Reports H1 Net Profit of 146.1 Billion KRW, Up 71.1% YoY

[Asia Economy Reporter Oh Hyung-gil] Dongyang Life Insurance announced on the 11th that its net profit for the first half of the year increased by 71.1% compared to the same period last year, reaching 146.1 billion KRW.

Operating profit for the first half rose 57.8% year-on-year to 171.7 billion KRW, while sales increased by 1.2% to 3.3098 trillion KRW.

Premium income amounted to 2.5289 trillion KRW, with protection-type premium income growing 3.7% year-on-year to 1.1961 trillion KRW.

Total assets increased by 4.7% year-on-year to 36.3189 trillion KRW, and managed assets rose 4.5% to 31.4588 trillion KRW. The return on managed assets improved by 9 basis points year-on-year to 3.46%, and the RBC ratio increased by 6.4 percentage points to 223.7%.

A Dongyang Life Insurance official stated, "Despite the prolonged COVID-19 pandemic, we achieved both quantitative and qualitative growth through stable insurance profit generation and improvement in net interest income and expenses," adding, "We will continue our solid growth by focusing on protection-centered sales strategies, risk management, and stable asset management."

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