Hanwha Life Insurance's net profit last year was 354.3 billion won, down 13.7% from the previous year

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

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hoondork1977@alphabiz.co.kr | 2023-02-23 08:09:05

서울 여의도 한화생명 본사 전경 (사진=한화생명)

[Alpha Biz=(Chicago) Reporter Paul Lee] Hanwha Life Insurance announced on the 22nd that its net profit last year was 354.3 billion won, down 13.7% (56.3 billion won) from a year earlier (410.6 billion won).

The annual payment insurance premium (APE) for new contracts was KRW 2.143 trillion, up 36.2% from the previous year. Import insurance premiums rose 26.3% to KRW 18.628 trillion. Insurance's original profit reached KRW 727.8 billion due to the expansion of private profits due to increased general guarantee sales.

The RBC ratio (capacity ratio) fell 22.4% year-on-year to 162.2%.
In addition, the loss ratio was solid at 80.1% due to the growth of risk insurance premiums and the management of accident insurance due to strengthened underwriting.

Hanwha Life Insurance's net profit last year was 354.3 billion won, down 13.7% from the previous year

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

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