Hanwha Life Insurance Announces Earnings Results for the Second Quarter and First Half of 2018; Provides Earnings Guidance for the Second Half and Full Year of 2018
August 10, 2018 at 10:30 am IST
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Hanwha Life Insurance announced earnings results for the second quarter and first half of 2018. For the six months, the company's pretax income grew 17.4% year-on-year to post KRW 164.6 billion, which indicates continued growth of insurance operational income.
The second quarter net profit posted a 13.7% growth quarter-on-quarter.
For the year, the company expects the loss ratio to be similar to that of last year through efforts to lower the loss ratio in the second half. And the company expects the loss ratio to be around 75% in the second half.
For the year, the company expects KRW 530 billion or a 77% loss ratio. Initial assumption about the interest rate for the whole year in business plan was 2.4%, little lower, but company believes that it's going to be about 2.4% to 2.5% for the whole year.
Hanwha Life Insurance Co Ltd is a Korea-based company engaged in life insurance business. The Company provides pure endowment, including annuity insurance, savings insurance, and juvenile insurance; insurance against death, including term insurance and whole life insurance; and mixed insurance including endowment insurance. Group insurance sells group endowment insurance, group annuity insurance, and group term life insurance for groups. The Company is also engaged in special account management. The Company operates its businesses in domestic and overseas markets such as Vietnam and Indonesia.
Hanwha Life Insurance Announces Earnings Results for the Second Quarter and First Half of 2018; Provides Earnings Guidance for the Second Half and Full Year of 2018