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Kyobo Life posts 24.5% YOY increase in FY'15 net profit

South Korea's Kyobo Life Insurance Co. Ltd. reported a 24.5%year-over-year increase in net profit for full year 2015.

The insurer's consolidated net profit attributable tomajority shareholders totaled 644.11 billion won for 2015, up from 517.48billion won in the prior-year period.

Total premium for the full year amounted to 12.609 trillionwon, up from 12.299 trillion won in the prior-year period, according to thecompany's annual report.

Operating income for 2015 rose year over year to 915.17billion won from 653.71 billion won.

The company's risk-based capital ratio dropped to 259.85% asof Dec. 31, 2015, from 271.33% as of Dec. 31, 2014.

As of March 7, US$1 wasequivalent to 1,201.58 South Korean won.