DB Insurance (005830) Q3 2024 earnings summary

Executive summary

• Net income for 3Q 2024 rose 24.9% year-over-year to KRW 454bn, with cumulative net income up 23.7% to KRW 1,578bn.

• Operating profit increased 27.9% year-over-year in 3Q 2024, reaching KRW 606bn; cumulative operating profit up 23.6%.

• Investment profit surged 255.6% year-over-year in 3Q 2024, contributing significantly to earnings growth.

Financial highlights

• 3Q 2024 revenue declined 8.1% year-over-year to KRW 4,366bn, but cumulative revenue grew 1.2% to KRW 13,685bn.

• Underwriting profit for 3Q 2024 decreased 10.8% year-over-year to KRW 361bn, but cumulative underwriting profit rose 11.5%.

• Dividend per share increased to KRW 5,300 in 2023, with a dividend payout ratio of 28.2%.

Outlook and guidance

• Shareholder return rate is planned to increase to over 35% if K-ICS ratio is maintained within 200–220% and profit generation continues.

• Capital policy targets a K-ICS ratio range of 200–220% to balance regulatory requirements and shareholder returns.