DB Insurance (005830) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 rose 16.2% year-over-year to KRW 5,578bn, but net income dropped 39.9% to KRW 269bn due to lower underwriting and investment profits.

• Recorded consolidated net income of KRW 239.6 billion for Q1 2026, with basic EPS of KRW 3,753, down from KRW 29,597 in Q1 2025.

• Total consolidated revenue reached KRW 7.1 trillion, up from KRW 5.6 trillion in Q1 2025.

• Insurance service result was KRW 243.6 billion, with insurance revenue of KRW 4.4 trillion and insurance service expenses of KRW 4.2 trillion.

• Investment income contributed KRW 2.66 trillion, offset by investment expenses of KRW 2.49 trillion.

Financial highlights

• Underwriting profit fell 43.7% year-over-year to KRW 227bn, while investment profit declined 3.2% to KRW 236bn.

• Total assets increased to KRW 74.6 trillion from KRW 66.5 trillion year-over-year.

• Insurance contracts issued as liabilities stood at KRW 38.2 trillion, with investment contract liabilities at KRW 13.4 trillion.

• Net cash flows from operating activities were KRW 2.4 trillion, while cash and cash equivalents at period end were KRW 1.02 trillion.

• Dividend income for the quarter was KRW 21.3 billion.

Outlook and guidance

• Shareholder return rate is planned to increase to over 35% by 2028, up from 30% in 2025, contingent on maintaining a K-ICS ratio between 200% and 220%.

• Management continues to focus on stable capital adequacy, risk management, and sustainable dividend policy.

• Ongoing efforts to expand global presence, including the acquisition of Fortegra Group in the US.

• Guidance emphasizes maintaining robust solvency ratios and enhancing shareholder returns.