Korea’s life insurance sector jumps 49% YoY year-to-date

It accumulated a total of $3.3b in net income.

The income of Korea’s life insurance sector jumped 49.4% to W4.40t ($3.3b) in the six months to September, data from the Korea Life Insurance Association showed.

To compare, the period’s profits were higher than August’s W3.83t ($2.9b) and last year’s W2.94t ($2.2b).

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Meanwhile, the total assets of Korean life insurers fell 11.3% to W831.37t ($630b).

The period also saw its insurance income reach W23.52t ($1.8b) whilst its investment income accumulated W45.87t (3.5b).

(W1.00 = $0.00076)