South Korea's DB Insurance Co. Ltd. forecast a 3.2% year-over-year rise in net profit for the 2018 full year.

The company said it expects net profit for 2018 to come to 642 billion won, up from 622 billion won in 2017.

Direct premium written is forecast to increase to 12.610 trillion won from 12.368 trillion won.

The group expects a combined ratio of 101.2% in 2018, down from 101.5% in 2017. Its loss ratio is forecast to decline to 81.8% from 82.3%, while its expense ratio is expected to rise to 19.4% from 19.2%.

As of Feb. 22, US$1 was equivalent to 1,078.66 South Korean won.