DB Insurance Posts 1.1241 Trillion KRW Net Profit in H1, Up 23.2% YoY

DB Insurance announced on the 14th that its net profit for the first half of this year reached 1.1241 trillion KRW, a 23.2% increase compared to the same period last year. Revenue was 9.3185 trillion KRW, up 6.3% from the same period last year, and operating profit rose 21.8% to 1.472 trillion KRW. Insurance profit increased by 21.6% to 1.0972 trillion KRW.

Net profit for the second quarter of this year was 540.6 billion KRW, a 16.3% increase compared to the same period last year. During the same period, revenue increased by 9.5% to 4.6869 trillion KRW, and operating profit rose 13.5% to 705.3 billion KRW.

In long-term insurance, profit reached 841.6 billion KRW, up 19.8% year-on-year, driven by an increase in new contract Contractual Service Margin (CSM) and improvement in long-term loss ratio (L/R). The CSM grew based on product competitiveness, with protection-type new contracts expanding, recording 1.4075 trillion KRW in the first half of this year. As of the first half of this year, the total CSM balance stood at approximately 12.9 trillion KRW. The long-term insurance L/R also declined due to factors such as medical strikes and competitiveness in insurance contract retention rates.

General insurance posted a profit of 93.5 billion KRW, a 397.5% increase compared to the same period last year, due to the base effect from last year's Guam typhoon incident. The general insurance L/R was recorded at 64.3%, down 6.5 percentage points, thanks to strengthened underwriting focused on high-quality risks.

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