Hanwha Life Insurance Q1 net profits drops by 70.6%

The insurer is considered the second biggest life insurer in South Korea.

Hanwha Life Insurance Co. reported that its first quarter (Q1) net profits reached $77.8m, a 70.6% drop from the previous year.

In a regulatory filing, Hanwha Life Insurance posted that it earned $100m in operating profits for the quarter, a drop from $350m from a year ago. Sales of insurance premiums however rose by 3.5% to $5.8.

Hanwha Life Insurance is considered as South Korea’s second biggest life insurer.

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