Cumulative Total for Q3: 1.578 Trillion KRW,
“DB Insurance reported that its Q3 operating profit and net profit both increased compared to last year.”
“DB Insurance announced today (14th) that its Q3 net profit rose by 24.9% year-on-year to 453.9 billion KRW.”
“Sales decreased by 8% to 4.3663 trillion KRW, while operating profit increased by 27.9% to 606.1 billion KRW.”
“Cumulatively for the third quarter, net profit increased by 23.7% year-on-year to 1.578 trillion KRW. Operating profit increased by 23.6% to 2.078 trillion KRW.”
“In detail, long-term insurance decreased by 2.0% year-on-year in Q3 to 361 billion KRW, but increased by 12.3% in cumulative terms to 1.2026 trillion KRW.”
“The company explained, ‘We achieved favorable results in CSM amortization and insurance claim experience due to stable new contract growth, increased CSM multiplier compared to the previous quarter, and improved long-term risk loss ratio due to ongoing medical strikes.'”
“As for auto insurance, the premium earned per vehicle continued to decrease due to rate cuts and loss ratio increases, dropping by 80.5% year-on-year to 17.7 billion KRW, and decreasing by 33.9% in cumulative terms to 180 billion KRW.”
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