DB Insurance (005830) Q2 2024 earnings summary

Executive summary

• Revenue for 2Q 2024 rose 9.5% year-over-year to KRW 4,687bn, with cumulative revenue up 6.3% to KRW 9,319bn.

• Net income for 2Q 2024 increased 16.3% year-over-year to KRW 541bn; cumulative net income up 23.2% to KRW 1,124bn.

• Operating profit for 2Q 2024 grew 13.5% year-over-year to KRW 705bn; cumulative operating profit up 21.8%.

Financial highlights

• Underwriting profit for 2Q 2024 increased 19.7% year-over-year to KRW 534bn; cumulative up 21.6%.

• Investment profit for 2Q 2024 slightly declined by 2.1% year-over-year to KRW 171bn, but cumulative investment profit rose 22.7%.

• Dividend per share for 2023 was KRW 5,300, with a dividend payout ratio of 28.2%.

Outlook and guidance

• Shareholder return rate is planned to increase to over 35%, up from 20.7% in 2023, contingent on maintaining a K-ICS ratio between 200% and 220%.

• Capital policy targets a K-ICS ratio range of 200%–220% to support shareholder returns and business expansion.