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Samsung Life posts YOY increase in Q2 profit

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Samsung Life posts YOY increase in Q2 profit

Samsung Life Insurance Co. Ltd. posted a year-over-year rise in second-quarter profit attributable to majority interest to 380 billion South Korean won from 329 billion won.

Insurance income fell to 475 billion won from 705 billion won, while investment income climbed to 1.669 trillion won from 1.540 trillion won.

Operating income for the quarter rose to 201 billion won from 106 billion won.

For the first half, the insurer posted a year-over-year decline in profit attributable to majority interest to 947 billion won from 1.570 trillion won.

The insurer's nonperforming loan ratio clocked in at 0.03% as of June 30, remaining the same from the prior quarter, but down from 0.04% at June 30, 2016. Its risk-based capital ratio for the period came to 332%, compared to 313% at March 31 and 374% at June 30, 2016.

As of Aug. 9, US$1 was equivalent to 1,138.59 South Korean won.