Photo = Mirae Asset Life

 

[Alpha Biz= Reporter Kim Minyoung] Shinhan Investment & Securities maintained its target stock price of 6,500 won and investment judgment "buy" for Mirae Asset Life Insurance on the 24th.

"We have lived up to expectations. We expect an increase in preference in the industry by securing dividendable profits if the cancellation refund reserve system is improved by the end of this year," said Shinhan Investment & Securities Co.

It recorded net profit of 39.4 billion won in the first quarter, which was in line with expectations. OP (operating profit) recorded 50.1 billion won and NP (net profit) recorded 39.4 billion won. It has actually increased compared to the current OP 709 billion won, excluding the effect of changing the IBNR (unreported loss) system, and the current OP, which eliminated one-off factors last year.

Quarterly coverage is estimated to be 5.6 billion won at the beginning of the month, new contract APE (annual payment insurance premium) 132.2 billion won, guarantee type 69 billion won, variable investment type 63.2 billion won, variable insurance growth due to recovery of investor sentiment in the stock market, new contract CSM (insurance contract margin) 80.3 billion won, and CSM conversion multiple 17.2 times.

It recorded 18.7 billion won in commission, 13.1 billion won in variable amount, 5.6 billion won in retirement pension, 12.3 trillion won in variable reserves and 6.1 trillion won in retirement pension reserves.

Investment gains and losses improved year-on-year when the return on operating assets was 2.35%, the burden rate was 3.21%, the holding interest was 3.18%, and the one-off bond disposal profit and loss was 44.7 billion won last year.

 

 

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