Samsung Life Reports Consolidated Earnings Results for the Year 2016; Declares Annual Dividend
January 25, 2017 at 09:21 pm IST
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Samsung Life reported consolidated earnings results for the year 2016. For the year, the company reported consolidated net profit jumped 76% to KRW 2,128.5 billion compared to KRW 1,211.2 billion a year ago, due to a KRW 1,192.4 billion after-tax gain on the bargain purchase of Samsung Card and Samsung Securities shares. Excluding this large non-cash gain, consolidated net profit decreased year-on-year to KRW 936.1 billion due to earnings pressure from the negative impact of lower interest rates.
The board of directors also declared an annual dividend of KRW 1,200 per share, totaling KRW 215.5 billion.
Samsung Life Insurance Co Ltd is a Korea-based company principally engaged in the life insurance business. The Company provides death insurance, survival insurance, life-and-death insurance, group insurance, and other insurance. The Company's life insurance includes guarantee insurance such as life insurance, health insurance and critical illness (CI) insurance, as well as savings insurance such as pension insurance and savings insurance. In addition, the Company is engaged in the businesses such as loans, securities, cash deposits and trusts, and real estate, among others.