KB Insurance earnings up 9.1% to $6b in FY 2024

Thanks to higher revenues, which increased 3.8% YoY.

KB Insurance saw its January to December (FY 2024) earnings climb 9.1% year-on-year (YoY) to $5.77b (₩835.9b).

This can be attributed to the 3.8% YoY hike in insurance revenues to $72.45b (₩10.5b), but was slightly offset by the 2.6% YoY increase in insurance expenses of $64.86b (₩9.4b).

Similarly, KB Life Insurance also increased by 5.1% YoY to $1.768b (₩256.2b).

The life segment’s operating income also jumped 13.1% YoY to $5.979b (₩865.1b). Likewise, operating expense marginally increased by 1.8% YoY to $3.736b (₩541.4b).

The KB Financial Group’s earnings per share for the period stood at $88.32 (₩12,800).

($1.00 = ₩1,453.15)