Mirae Asset Life Insurance recorded 243.3 billion won in the first quarter of this year for variable insurance first-year premiums, marking a 140% increase compared to the same period last year. It captured 27.3% of the total market share, ranking first in the industry.
According to a report from the Life Insurance Association released on the 27th, Mirae Asset Life Insurance's variable insurance first-year premium for the first quarter of 2025 was 243.3 billion won, which is about 2.4 times higher compared to 101.4 billion won in the first quarter of 2024. During the same period, the second and subsequent premium payments reached 343.4 billion won, bringing the total premium income to approximately 586.7 billion won. The first-year premium is the initial premium paid by the customer immediately after signing the insurance contract and is considered a key indicator of new contract inflow.
While large life insurance companies recorded first-year premiums below 100 billion won, Mirae Asset Life Insurance alone recorded over 240 billion won, demonstrating a significant difference from other insurers.
In the first quarter of this year, the entire life insurance industry reported 890.3 billion won in variable insurance first-year premiums, a 75.4% increase compared to the previous quarter. The industry views the growth in the variable insurance market during the first quarter of this year as being linked to improved investor sentiment due to the recovery in the stock market.
Variable insurance is designed to invest a portion of the premium in financial assets such as stocks or bonds, allowing for a higher correlation with the capital market as the revenue is distributed to the policyholders.
Mirae Asset Life Insurance appears to have maintained its performance and profitability based on overseas investments. The company invests 75% of its variable insurance assets in overseas assets, surpassing the current industry average of over 10% for overseas investment and engaging in global diversified investments.
Mirae Asset Life Insurance operates the 'Mirae Asset Life Insurance Global MVP Fund' series, the industry's first discretionary asset allocation fund, achieving high customer satisfaction. Each quarter, asset management experts meticulously monitor the global financial markets on behalf of clients and conduct asset rebalancing to respond proactively.