South Korea's Financial Supervisory Service published preliminary first quarter 2026 results for 52 insurers, showing aggregate net income of KRW4.4817 trillion, up KRW389.6 billion or 9.5% from a year earlier. The increase was driven by life insurers, whose net income rose 40.6% to KRW2.3761 trillion, while nonlife insurers' net income fell 12.3% to KRW2.1056 trillion. Total premium income increased 6.0% to KRW66.4884 trillion. Life insurers' earnings benefited from a KRW457.7 billion rise in investment income, supported by interest and dividend income and gains from one-off asset disposals, although insurance income fell KRW86.8 billion because of adverse experience losses. For nonlife insurers, higher interest rates reduced bond portfolio values and cut investment income by KRW229.4 billion, while insurance income edged up KRW5.0 billion. Premium growth came from protection-type insurance, savings products and retirement pensions on the life side, and from general, long-term and auto insurance for nonlife insurers. Sector return on assets improved to 1.33% from 1.27%, but return on equity declined to 10.03% from 11.92%. As of end-March 2026, aggregate assets stood at KRW1,353.9 trillion, liabilities at KRW1,164.9 trillion and shareholders' equity at KRW189.0 trillion. The Financial Supervisory Service said it will monitor risks to insurers' earnings and financial stability amid uncertainty in interest rates, stock prices and exchange rates, and guide firms to respond preemptively if those risks materialize.
South Korea Financial Supervisory Service2026-05-27
South Korea Financial Supervisory Service reports preliminary Q1 2026 insurer net income up 9.5 percent to KRW4.48 trillion
The South Korea Financial Supervisory Service reported that aggregate net income of 52 insurers rose 9.5% year-on-year to KRW4.4817 trillion in the first quarter of 2026, driven by a 40.6% increase in life insurers’ earnings, while nonlife insurers’ net income declined. Premium income grew 6.0% to KRW66.4884 trillion, sector return on assets improved to 1.33% and return on equity fell to 10.03%, with aggregate assets reaching KRW1,353.9 trillion. The authority said it will monitor earnings and financial stability risks and guide insurers to respond preemptively amid market uncertainty.