Hyundai Insurance underwriting dips in H1 ‘23

Its net income also saw a 15.8% contraction to KRW578b.

Korean insurer Hyundai Insurance saw its underwriting income drop 29.8% to KRW500b in the first half of the year, mainly driven by slower performances in its commercial, long-term and auto insurance service.

Its net income also saw a 15.8% contraction to KRW578b.

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In terms of per insurance segment, commercial saw the largest drop with 39.7% to KRW41b. This was followed by long-term (36.4% to KRW304b) and auto (6.9% to KRW154b).