Korean Reinsurance Company (003690) Q2 2025 earnings summary

Executive summary

• Achieved S&P rating upgrade to A+ (Stable) in July 2025, reflecting strengthened capitalization and improved underwriting performance.

• Net income for H1 2025 rose 25.8% year-over-year to KRW 195.5 billion, with revenue up 5.2% to KRW 3,503.5 billion.

• Overseas business now comprises 44% of the portfolio, up from 35% in 2022, supporting diversification and growth.

Financial highlights

• Gross written premiums increased 3.3% year-over-year to KRW 3,922.9 billion in H1 2025.

• Operating income rose 24.9% year-over-year to KRW 253.4 billion.

• Shareholders’ equity grew 5.2% year-over-year to KRW 3,481.9 billion.

• Return on equity (annualized) improved to 11.3% from 9.4% in H1 2024.

Outlook and guidance

• Continued focus on profitability-centered portfolio rebalancing and international business expansion.

• Ongoing diversification of overseas portfolio by line of business and region to manage volatility and enhance profitability.