DB Insurance (005830) Q3 2025 earnings summary

Executive summary

• Revenue increased 7.6% year-over-year in 3Q25 and 11.0% for the nine-month period, reaching KRW 4,700bn and KRW 15,191bn, respectively.

• Consolidated net income for 2025 Q3 was KRW 1,411.8 billion, down from KRW 1,666.5 billion year-over-year.

• Insurance and investment operations drove strong financial results, with total assets reaching KRW 72.1 trillion.

• Insurance revenue was KRW 12.2 trillion, and investment income contributed significantly to overall profitability.

• The group maintained robust capital adequacy, with a solvency margin ratio of 226.5% and high credit ratings.

Financial highlights

• Underwriting profit dropped 71.7% year-over-year in 3Q25 and 47.0% for the nine-month period.

• Investment profit increased 23.0% in 3Q25 and 43.6% for the nine-month period.

• Total assets increased to KRW 72.1 trillion from KRW 66.5 trillion at the end of 2024.

• Basic EPS for the cumulative period was KRW 23,434.

• Insurance service expenses for the period were KRW 11.2 trillion.

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%.

• Dividend per share is projected to rise, with a target of KRW 6,800 by 2028.

• The group aims to expand domestic and overseas insurance operations, focusing on profitability and risk management.

• Strategic priorities include channel diversification, digital transformation, and ESG initiatives.

• Dividend policy remains focused on gradual payout ratio increases, with stable cash dividends planned.