Samsung Life investment gains 1trillion 2,000billion reflected, life insurers’ 1quarterly net profit rises
Samsung Life holds a 8.41% stake in Samsung Electronics and 1booked investment gains for the quarter of 1trillion 2,000billion won. The life insurance industry’s 1quarterly net income 10rose by %, while insurers’ outstanding loans fell by more than 1trillion won from year-end, and the non-performing loan ratio widened.
Life insurers’ net income for the 1quarter rose year on year. It was noted that Samsung Life holds a 8.41% stake in Samsung Electronics and that investment gains alone for the quarter came to 1trillion 1billion won. The industry has said this figure affected life insurers’ results.2,000The industry has said this figure affected life insurers’ results.
Reports also mentioned the possibility that dividends alone this year could exceed 3trillion won. Samsung Electronics’ record-level results were cited as boosting dividend expectations. This was presented as a case in which dividend-related income translated into investment gains for an insurer.
The data showed that the life insurance industry’s 1quarter net income rose 10% year on year. By contrast, non-life insurers’ net income declined over the same period. The decrease in non-life insurance earnings is reflected in the compiled results.
According to an announcement by the Financial Supervisory Service, the outstanding balance of loans extended by insurers, compared with year-end last year, 1trillion won. The report cited a decline in corporate loans as the reason for the decrease in the outstanding loan balance. It presented the status of loan receivables by type.
The same data indicated that the share of non-performing loans at insurers had increased. The report separately specified the classification and changes in non-performing loans. Specific ratios and figures by category are given in the full report.
In regional figures, lending by financial institutions in Gwangju and Jeonnam 1quarter increased compared with the previous quarter. Regional lending trends were classified and announced according to financial statistics for each local government. The relevant announcement dates are 5month 27 and 28.