[Korea gimmingyeong financial newspaper reporter] showed that average earnings decreased by 2.3% last year insurers. However, thanks to the auto loss ratio non-life insurers are easing scored a hosiljeok.
Financial Supervisory Service announced the 2016 insurance earnings 21 days.
According to the Financial Supervisory net income of life insurance companies posted a 2.6933 trillion won, down 25 percent from the previous year.
That according to the percentage of the insurance premiums paid to customers than the high insurance operating loss enlarged and, the mortgage loans to buy meat reserves invested 266.2 billion won in operating profit last year, including Tong Yang Life Insurance stagnation FSS said.
Insurers scored a net profit of 3.4681 trillion won increase of 27.7% compared to the previous year.
Last year, regulators led to changing the way rental car offers, the minor accident repair guidelines issued such an improvement in the loss ratio in the auto insurance system change effects.
Auto insurance loss ratio of life insurers were to be improved to 83.1% from 87.7% the previous year.
Insurance premium income increased by 2.9% yoy to a record 195.1557 trillion won last year.
In the case of life insurers it recorded a 2.2% year-on-year increase in the value recorded 119.7941 trillion won. Endowment insurance of life insurance companies are aligning with effect from the introduction of the constitution last year IFRS17 kkoehan improved protection-type insurance is mainly showed 3.9% decrease.
Premium income of life insurers posted a 75.3616 trillion won increase of 4.2%. In particular, thanks to last year, which has continued to raise auto insurance premiums since the deregulation measures of the rate of increase in auto insurance premiums supervisory authorities have revealed the highest at 11%.
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