insurance firms-2025 earnings

Insurers' net dips 15 pct in 2025 on increased costs

SEOUL, March 30 (Yonhap) -- Insurance companies in South Korea saw their combined net profit fall 15 percent last year from a year earlier due largely to increased costs, data showed Monday.

The combined net profit of 22 life insurers and 30 non-life insurance companies here came to 12.22 trillion won (US$8.09 billion) last year, down 2.07 trillion won, or 15 percent, from a year earlier, according to the data from the Financial Supervisory Service.

The on-year decline was attributed to a rise in increased costs and loss rates, according to the financial watchdog.

Life insurance firms' net profit fell 12 percent on-year to 4.97 trillion won last year, with that of non-life insurers dipping 16 percent to 7.25 trillion won over the cited period.

The companies' insurance premium income came to 266.66 trillion won last year, up 11 percent, or 26.68 trillion won, from a year earlier, the data showed.

Their return on assets stood at 0.94 percent at end-December, down 0.21 percentage point from a year earlier, with their return on equity slipping 1.35 percentage points to 7.86 percent.

Their total assets stood at 1,344 trillion won as of end-December, up 5.9 percent, or 75.2 trillion won, from a year earlier, the data showed.

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