Hanwha Life Insurance's Net Profit Last Year 57.1 Billion KRW... 87.1% Decrease YoY

[Asia Economy Reporter Oh Hyung-gil] Hanwha Life announced on the 7th that its net profit for last year was 57.1 billion KRW, a decrease of 87.1% compared to the previous year.

Sales increased by 6.6% from the previous year to 24.9785 trillion KRW, but operating profit decreased by 92.4% to 49.2 billion KRW.

The company explained that "the increase in variable guarantee reserves due to the decline in market interest rates and the decrease in insurance operating profit of subsidiaries are the causes."