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.
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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."
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