Kyobo Life Insurance Achieves Growth in Both Core Insurance and Investment Profit... Separate Net Profit Reaches 330.1 Billion Won

Impact of Expanding Health Insurance Sales
Insurance Profit Up 13.3%
Bond and Alternative Investment Rebalancing Proves Effective... Investment Profit Reaches 259.4 Billion Won
New Business CSM Soars by 61.6%

Kyobo Life Insurance recorded solid performance in the first quarter of this year, achieving simultaneous growth in both its core insurance business and investment sector. This was attributed to the expansion of sales of protection-type products, such as health insurance, and a proactive asset management strategy.

On May 15, Kyobo Life Insurance announced that its consolidated net profit attributable to owners of the parent company for the first quarter of this year reached 458.7 billion won. This represents an increase of 173.3 billion won (60.7%) compared to the same period last year (285.4 billion won).

On a separate basis, net profit was 330.1 billion won, up 14.8 billion won (4.7%) year-on-year, maintaining a stable earnings flow.

Investment profit and loss stood at 259.4 billion won, an increase of 17.1 billion won (7.1%) compared to the same period last year. This was due to proactive switching between long- and short-term bonds to respond to interest rate volatility, early inclusion of high-quality assets, and portfolio rebalancing strategies for equities and alternative investments.

Insurance profit and loss reached 184.8 billion won, up 21.7 billion won (13.3%) from the previous year. The expansion in sales of protection-type products, mainly health insurance, along with the launch of products tailored to customer demand—such as health insurance for the elderly and those with pre-existing conditions, as well as cancer and nursing care insurance—drove the improvement in results.

The Contractual Service Margin (CSM) for new business saw a significant increase due to the expansion of protection-type insurance sales. In the first quarter of this year, the separate new business CSM was 415.9 billion won, up 158.6 billion won (61.6%) year-on-year.

As of the end of the first quarter, the cumulative CSM stood at 6.6869 trillion won, an increase of 175.9 billion won (2.7%) compared to the end of last year. The company explained that this reflected the expansion of new business CSM and the positive impact of rising unit-linked insurance stock prices.

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