DB Insurance (005830) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 rose 5.9% year-over-year to KRW 18,831bn, with net income up 15.3% to KRW 1,772bn.

• Operating profit increased 17.2% year-over-year, while investment profit surged 59.3% to KRW 744bn.

• The business strategy for 2025 focuses on efficiency, profitability, and sustainable growth amid macroeconomic uncertainty.

Financial highlights

• 4Q 2024 revenue grew 20.6% year-over-year, but net income for the quarter dropped 25.6%.

• Underwriting profit for 2024 increased 4.5% year-over-year, while investment profit saw a significant jump.

• Dividend per share increased to KRW 6,800, with a payout ratio of 23.0% and yield of 7.0%.

Outlook and guidance

• 2025 strategy emphasizes profitability-based growth, product portfolio optimization, and new business development.

• Focus on contract and claim efficiency, channel-balanced growth, and asset portfolio efficiency.

• Persistency rates and loss ratios targeted for improvement in both long-term and auto segments.