Lotte Insurance Reports Cumulative Q3 Net Profit of 84.4 Billion KRW, Down 68% YoY

Lotte Insurance announced on the 14th that its cumulative net profit for the third quarter was 84.4 billion KRW, a 68% decrease compared to the same period last year.

The cumulative insurance operating profit for the third quarter was 113.2 billion KRW.

As of the end of the third quarter, Lotte Insurance's Contractual Service Margin (CSM) was recorded at 2.453 trillion KRW, an increase of 56.4 billion KRW compared to the beginning of the year. The additional CSM from new contracts during the third quarter was 111.4 billion KRW.

The cumulative long-term protection insurance gross written premium for the third quarter was 1.7765 trillion KRW, a 14.4% increase compared to the same period last year.

The cumulative investment loss during the same period was 5.4 billion KRW. This figure reflects some negative margins and one-time valuation losses on investment securities.

Lotte Insurance stated, "We will continue to readjust investment assets by reducing investment securities and increasing the proportion of safe assets such as bonds."

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