Life insurers’ quarterly earnings improve on Samsung Life’s stake and investment gains1quarterly earnings improve
Samsung Life’s stake in Samsung Electronics and1quarterly investment gains lifted earnings across the life insurance industry. Non-life insurers’ net income fell over the same period, while lending increased in the financial sector in the Gwangju and Jeonnam region.
Samsung Life holds a stake of8.41% in Samsung Electronics. In the quarter this year,1Samsung Life’s investment gains and losses alone1.2were tallied in trillion won. Samsung Life’s net income for the period increased from a year earlier.
Across the life insurance industry,1quarterly net income10increased by % year over year. An industry official said Samsung Life’s investment gains and losses, as well as dividend expectations, affected industry earnings. Improved earnings at Samsung Electronics raised expectations for dividends.
Non-life insurers’1quarterly net income declined. Non-life insurers’ earnings were tallied as having fallen due to changes in insurance underwriting gains and loss ratios. There were wide differences in operating results among individual companies.
Regional financial-sector statistics show that, for the Gwangju–Jeonnam financial sector, 1quarterly lending increased from the previous quarter. The size of the increase varied by product and institution. Regional lending growth reflects changes in loan demand across the financial sector.
Some reports have forecast that dividends this year alone could exceed 3trillion won. The forecast was calculated based on Samsung Electronics’ dividend amount and Samsung Life’s stake. The dividend announcements and payment dates of individual companies will be confirmed later.