[Asia Economy Reporter Oh Hyung-gil] Lotte Insurance announced on the 7th that its net profit for the first half of the year reached 63.3 billion KRW, marking a 58.8% growth compared to the same period last year. During the same period, sales amounted to 1.1098 trillion KRW, and operating profit was 90 billion KRW.
Long-term protection insurance grew by 15.4% compared to last year, and the loss ratio improved from 91.6% in the first half of last year to 87.8% in the first half of this year.
A Lotte Insurance official stated, "In the second half, the trend of profit increase will continue through solid management and business expense efficiency," adding, "We achieved 79.3% of the operating profit level compared to the performance forecast announced at the beginning of the year, which projected sales of 2.1577 trillion KRW and operating profit of 113.5 billion KRW."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
