Kyobo Life Insurance said on the 31st that net profit under consolidation last year was 752.3 billion won, up 12.4% from a year earlier.
Last year, Kyobo Life Insurance's investment profit and loss was 670 billion won, down 0.2% from a year earlier. At the end of last year, Kyobo Life Insurance's insurance profit and loss was 391.6 billion won, down 17.3% from a year earlier. Kyobo Life Insurance was said to have maintained a stable profit and loss structure by continuously expanding sales of protection-type products such as health insurance last year.
Last year, new-contract CSM (separate basis) was 1.2781 trillion won, maintaining strong sales of protection-type insurance. It was similar to the previous year. Kyobo Life Insurance's accumulated CSM at the end of 2024 was 6.511 trillion won, up 72.9 billion won from 6.4381 trillion won.
A Kyobo Life Insurance official said, "Profit in the investment segment, the key driver of results, is the result of a rebalancing strategy that flexibly adjusted the portfolio through switching between long- and short-term bonds in line with interest rate fluctuations, preemptive inclusion of high-quality asset, and investments in stocks and alternatives."