[Featured Stock] Hanwha Life Insurance Surges Over 5% on Record Profit Forecast...Rises for 4 Consecutive Trading Days
![[Featured Stock] Hanwha Life Insurance Surges Over 5% on Record Profit Forecast...Rises for 4 Consecutive Trading Days](http://www.asiae.co.kr/news/img_view.htm?img=2020090408290462202_1599175745.jpg)
[Asia Economy Reporter Park Jihwan] On the 29th, Hanwha General Insurance showed strong performance in the early trading session following securities analysts' forecasts that it will record its highest-ever earnings.
According to the Korea Exchange on the same day, Hanwha General Insurance was trading at 4,730 KRW, up 240 KRW (5.35%) compared to the previous trading day as of 10:14 AM. It has continued its upward trend for four consecutive trading days.
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The recent stock price strength of Hanwha General Insurance is interpreted as reflecting expectations of record-high profits this year. Lee Hongjae, a researcher at Hana Investment & Securities, stated, "In the first half of the year, it already exceeded last year's annual performance by 16.5%, and with favorable automobile risk loss ratio (L/R) continuing in the third quarter, strong performance is expected, so the annual profit this year is likely to record the highest ever."
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