Headquarters of the Monetary Supervisory Service (FSS) / Korea Instances file
Insurance coverage firms in Korea posted a slight progress of their web revenue within the first six months of the yr from a yr earlier however solely on an increase within the earnings of non-life insurers, information confirmed Monday.
The mixed web earnings of twenty-two life insurers and 31 non-life insurance coverage firms right here got here to 9.36 trillion gained ($6.98 billion) within the first half, up 2.8 % from the identical interval final yr, in keeping with preliminary information from the Monetary Supervisory Service (FSS).
The 22 life insurance coverage companies posted a mixed web revenue of three.59 trillion gained within the January-June interval, down 9.4 % from a yr earlier, whereas the non-life insurance coverage companies’ mixed web revenue spiked 12.2 % on-year to five.77 trillion gained over the cited interval.
The monetary regulator stated the decline within the mixed web of life insurers largely stemmed from a pointy drop of their funding returns, which plummeted over 24 % on-year from 2.3 trillion gained to 1.75 trillion gained over the interval.
Their mixed web revenue from insurance coverage enterprise alone gained 5.4 % on-year to 2.93 trillion gained, in keeping with the FSS.
The insurance coverage firms’ premium earnings got here to 115.7 trillion gained within the first half, up 3.9 % from a yr earlier.
Their return on belongings reached 1.52 %, down 0.04 share level on-year, however their return on fairness gained 0.72 share level to 11.79 %.
Their complete belongings had stood at 1,240.8 trillion gained as of end-June, up 1.3 % from six months earlier, whereas their complete liabilities gained 3.0 % to 1,089.6 trillion gained over the interval. (Yonhap)
