[Featured Stock] Hanwha Life Insurance Hits New Low Amid Weak Earnings and Future Outlook

[Asia Economy Reporter Eunmo Koo] Hanwha Life Insurance continues to show a sluggish trend, hitting a new low. This is interpreted as a combined effect of poor performance last year and future outlook.

As of 9:47 a.m. on the 21st, Hanwha Life was trading at 1,910 KRW, down 3.05% (60 KRW) from the previous trading day. During the session, it briefly hit a 52-week low of 1,900 KRW.

Hanwha Life announced through a disclosure that it recorded an operating loss of 139.484 billion KRW last year, turning to a deficit compared to the previous year. During the same period, sales increased by 5.44% to 16.0836 trillion KRW, while net income decreased by 68.09% to 114.6 billion KRW.

Junsup Jung, a researcher at NH Investment & Securities, stated in a report on the day, “Following last year, efforts to actively increase new contract value and company-wide cost reduction are expected this year as well, but it seems difficult to avoid the negative impact of rising loss ratios and falling interest rates in the external environment,” adding, “Meaningful performance improvement is unlikely in the near term.”