Hanwha General Insurance Reports H1 Net Profit of 254.7 Billion KRW, Up 25.8% YoY

Hanwha General Insurance announced on the 9th that its net profit for the first half of this year reached 254.7 billion KRW, a 25.8% increase compared to the same period last year (202.4 billion KRW). This marks the highest profit on a half-year basis.

Revenue increased by 3% year-on-year to 2.9392 trillion KRW. During the same period, new long-term protection contract sales rose by 17.7% to 35.3 billion KRW compared to last year.

The Contractual Service Margin (CSM) for held contracts in the first half was 3.961 trillion KRW, up 34.4 billion KRW from 3.927 trillion KRW at the end of last year.

A Hanwha General Insurance official stated, "The continuous development of new riders, such as the breast cancer prognosis prediction test fee which has obtained exclusive usage rights, and their integration into the Signature Women’s Health Insurance have driven sustained sales growth through differentiated product offerings," adding, "In the second half, we will focus on securing CSM by expanding sales centered on high-value products such as women’s insurance."