DB Insurance (005830) Q2 2025 earnings summary

Executive summary

• Revenue for 2Q 2025 rose 17.7% year-over-year to KRW 5,517bn, with cumulative revenue up 12.6% to KRW 10,491bn.

• Net income for 2Q 2025 declined 14.9% year-over-year to KRW 460bn; cumulative net income fell 19.3% to KRW 907bn.

• Achieved consolidated net income of KRW 1,083.7 billion for H1 2025, with strong insurance and investment results.

• Insurance revenue reached KRW 8,684.9 billion, and investment income was KRW 3,614.3 billion for the half-year.

• Maintained robust capital adequacy and liquidity, with a solvency margin ratio of 213.3% at the end of Q2 2025.

Financial highlights

• Underwriting profit dropped 49.9% year-over-year in 2Q 2025, while investment profit more than doubled, up 101.5%.

• Consolidated revenue for H1 2025: KRW 12,299.3 billion; operating profit: KRW 1,418.3 billion.

• Net income attributable to owners: KRW 1,081.2 billion; basic EPS: KRW 18,007.

• Total assets: KRW 69,866.9 billion; total equity: KRW 8,997.0 billion as of June 30, 2025.

• Insurance service result: KRW 719.1 billion; investment income: KRW 3,614.3 billion.

Outlook and guidance

• Shareholder return rate is planned to increase to over 35% by 2028, up from 23.0% in 2024, contingent on maintaining a K-ICS ratio between 200% and 220%.

• Management expects continued growth in insurance and investment income, with a focus on risk-adjusted returns.

• Plans to enhance digital transformation, expand global operations, and strengthen ESG initiatives.

• Dividend policy remains stable, with a payout ratio of 22% for the latest period.