Dongyang Life Insurance Reports Q3 Cumulative Net Profit of 265.7 Billion KRW, Up 22.2% YoY

On the 13th, Dongyang Life Insurance announced that its cumulative net profit for the third quarter of this year reached 265.7 billion KRW, marking a 22.2% increase compared to the same period last year.

During the same period, insurance profit and loss recorded 233.4 billion KRW, a 27.2% increase driven by the popularity of health insurance products such as dementia insurance and cancer insurance.

The cumulative new contract amount of annual premium equivalent (APE), an indicator of insurance sales growth, for the third quarter of this year was 700.7 billion KRW. Among this, protection-type APE accounted for 644.2 billion KRW, a 32% increase compared to the same period last year, representing 92% of the total APE. The new contract insurance contract margin (CSM) increased by 1.1% year-on-year to 567.1 billion KRW.

The cumulative investment profit and loss for the third quarter of this year recorded 105.4 billion KRW, a 15.6% increase compared to the same period last year despite increased volatility in the financial markets. The operating asset yield stood at approximately 3.83%. During this period, the 13th-month persistency rate for protection-type insurance rose by 3.3 percentage points to 88.4%, and the 25th-month persistency rate increased by 0.8 percentage points to 69.1%.

A representative from Dongyang Life Insurance stated, “Despite domestic and international uncertainties, we expanded our market dominance in health products through flexible responses tailored to customer and market needs,” adding, “We will faithfully reflect the new guidelines proposed by financial authorities and make future-oriented decisions rather than focusing on short-term performance.”