[Asia Economy Reporter Changhwan Lee] Hanwha Life announced on the 31st that its consolidated net profit for the third quarter was tentatively estimated at 388.9 billion KRW, an increase of 2.62% compared to the same period last year.


Operating profit for the third quarter rose 13.86% year-on-year to 284.9 billion KRW, and sales, referring to gross written premiums, increased 33.24% year-on-year to 10.0158 trillion KRW.


Hanwha Life stated that the main achievements were the increase in new contract annualized premium equivalent (APE) due to the expansion of protection-type sales and the significant growth in sales of highly profitable general protection products.


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According to Hanwha Life, third-quarter written premiums increased 1.6% year-on-year to 3.559 trillion KRW. Thanks to the expansion of protection product sales, new contract APE rose 12.6% year-on-year to 509.2 billion KRW, and general protection APE surged 123.6% year-on-year to 250.8 billion KRW due to increased sales of general protection products such as the 'Signature Cancer Insurance.'


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