Samsung Life Insurance Co Ltd (XKRX:032830)
â‚© 100500 2500 (2.55%) Market Cap: 18.05 Til Enterprise Value: 31.18 Til PE Ratio: 7.61 PB Ratio: 0.56 GF Score: 61/100
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Q2 2021 Samsung Life Insurance Co Ltd Earnings Call Transcript

Aug 13, 2021 / 01:00AM GMT
Release Date Price: â‚©76200 (-0.39%)
Ho;Seok Yoo

Good morning, everyone. This is Ho-Seok Yoo, CFO of Samsung Life. Despite the tough business environment continuing throughout the first half of 2021 due to the prolonging COVID-19 pandemic, the company attained a favorable first half earnings results in terms of both business growth and profitability compared to the previous year.

Our first half net profit recorded KRW 1,165 billion, increasing 71.6% year-on-year backed by the improvement in investment margin. Meanwhile, value of new business, which is the company's long-term profitability index, improved by 28%, showing double-digit growth, thanks to the favorable sales in health products.

The company retained its market leader position by securing 25.2% of market share in the protection market, along with the growth of policyholders now reaching 8.2 million persons. Furthermore, our capital adequacy has maintained at a superior level.

Next, I will go over the net profit in more detail. First half pretax income came in at KRW 1,556 billion, which consists of KRW 272 billion of risk margin, KRW 1,221

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