East Asian Life, Moody’s credit rating Baa1 achieved.

, “[Daily Economy = Reporter Hwang Hyun-wook] Dongyang Life announced on the 19th that Moody’s, one of the world’s top three credit rating agencies, maintained Dongyang Life’s corporate credit rating at ‘Baa1’ and revised the rating outlook from ‘Stable’ to ‘Positive’.”,
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, ‘In this rating evaluation, Moody’s highly evaluated Dongyang Life’s strong and steady operating income and the increasing trend in insurance contract margins.’,
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, ‘Moody’s stated, “Under the new international accounting standards, Dongyang Life’s return on capital in 2023 was higher compared to other domestic insurers rated by Moody’s, indicating improved profitability.” They analyzed, “Driven by the increase in the sales of whole life and health insurance products, the new contract insurance margin increased by 34.6% to 76.02 billion won. Despite the high interest rate environment, the net investment return also increased from 2.7% in 2022 to 3.8%, showing positive improvements in indicators.”‘,
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, ‘Furthermore, Moody’s mentioned, “Dongyang Life’s exposure to overseas real estate is mainly composed of senior tranches, and the average loan-to-collateral ratio is relatively low, resulting in lower asset risks compared to domestic competitors.” They also stated that they expect Dongyang Life to maintain a K-ICS ratio of over 175% over the next 12-18 months through steady creation of insurance contract margins and effective risk management for improved capital efficiency. Moody’s highlighted that the strong capital adequacy, sound asset quality, and improved K-ICS ratio also had a positive impact.’,
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, ‘A Dongyang Life official commented, “The upward revision of the rating outlook signifies that despite the continuing challenging economic environment domestically and internationally, our company has improved profitability and financial stability through growth in scale. It also indicates that Dongyang Life’s management is being positively evaluated in the global market.” They added, “We expect that this credit rating result will be helpful for enhancing our external credit standing and expanding future business opportunities.” ‘