Hanwha Life Insurance (088350) Q1 2026 earnings summary

Executive summary

• Consolidated net profit for Q1 2026 reached 381.6 billion KRW, up 29% year-over-year, driven by improved profitability, subsidiary performance, and strong growth in protection APE and new business CSM.

• Focused on customer-centric management, sustainable growth initiatives, and digital transformation.

• Total assets stood at 177.8 trillion KRW at the end of Q1 2026, with insurance contract liabilities at 107.8 trillion KRW.

Financial highlights

• Consolidated revenue for Q1 2026 was 9.99 trillion KRW, with operating profit of 480.8 billion KRW, and net income attributable to owners at 324.4 billion KRW, up 43.5% year-over-year.

• Protection APE grew 1.8% year-over-year to 700 billion KRW; new business CSM surged 25.1% to 611 billion KRW.

• Investment profit was 242 billion KRW, supported by recurring gains and long-term strategies.

• Major subsidiaries contributed strong earnings, including Hanwha General Insurance (98.9B KRW), Asset Management (7.5B KRW), Securities (28.3B KRW), and overseas subsidiaries (45.3B KRW).

• Earnings per share for Q1 2026 was 399 KRW.

Outlook and guidance

• Expectation of continued CSM balance growth for the full year, driven by reduced negative adjustments and improved sales impact.

• Full-year insurance profit guidance maintained at 500 billion KRW, with improvements in claims variance and reduction in onerous contract expenses.

• K-ICS ratio expected at 162%, indicating strong capital adequacy.

• Ongoing digital transformation and product innovation are expected to support future profitability.

• Ongoing efforts to adapt to new actuarial guidelines, with detailed financial impact to be shared after Q2 2026.