Hanwha Insurance, auto loss ratio improved profit forecast 10% ↑ - Shinhan

[Korea Seo Hye Rin nine financial newspaper reporter] had expected they would have 24 days Shinhan Investment Corp. Hanwha Insurance in the first quarter to improve auto loss ratio for the damage increased by 10% compared to market estimates. The recommendation is BUY, TP proposed a 9,500 won.

1Q09 OP of Hanwha Insurance is expected to exceed 46.6 billion won it rose 13.3% YoY and net profit of more than 10% of the consensus (operating profit of 37.1 billion won and net profit of 33.4 billion won) rose 25.5 percent to 35.6 billion won.

The results are expected to improve as is interpreted as improved auto loss ratio is affected.

Imhuiyun Shinhan Investment Corp. researchers' Insurance contracts are superior expansion (+ 18.0%) and earned premiums increased expectations for improvement in the loss ratio to maintain ssangkkeul (-3.6% p) of the (+ 12.0%) is effective ', saying' Mileage viscosities that are constantly being made to expand rider was described as positive. Also this year, auto loss ratio

It said it expected to record a 81.7%, the lowest since 2010.

Are also the researchers 'Considering that in May IFRS17 standards will lower RBC ratios in public (by 153% at end-16) was introduced in 2021 will burden or time out is enough' he said.



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