Samsung Life Insurance Reports Net Profit of 2.1068 Trillion KRW, Up 11.2% YoY

Samsung Life Insurance Holds Investor Relations Presentation on the 20th

Samsung Life Insurance announced its key financial results for 2024 through an Investor Relations (IR) presentation on the 20th.

Last year's net profit increased by approximately 11.2% compared to the previous year (KRW 1.8953 trillion), reaching KRW 2.1068 trillion. Investment gains improved significantly year-on-year due to increased dividend income and reduced debt interest burden resulting from falling interest rates.

The new contract insurance contract margin (CSM) secured KRW 3.3 trillion. Despite declining interest rates and intensified sales competition, this was achieved through an expansion of new contract volume and a portfolio focused on health products compared to the previous year. The proportion of health products in the new contract CSM increased by 21 percentage points year-on-year to 58%. The retained CSM increased by KRW 700 billion from the beginning of the year to KRW 12.9 trillion, driven by the performance of new contract CSM and efficiency management.

The number of exclusive agents increased by more than 5,570 compared to the beginning of the year, totaling 37,313.

A Samsung Life Insurance official stated, "Based on fundamental improvements and profit growth, we decided on a dividend of KRW 4,500 per share, the highest ever," adding, "We will gradually raise the medium-term shareholder return ratio target to 50%."

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