Samsung Life Insurance (032830) Q3 2026 earnings summary

Executive summary

• 9M FY26 consolidated net profit was KRW2,686bn, up 26.9% YoY; investment profits grew 40.0%, while insurance service results fell 2.8% to KRW1,063bn.

• CSM reached KRW14.3tn at Sep 2026, up KRW1.1tn YTD, and the K-ICS ratio was 209%.

Financial highlights

• Q3 net profit was KRW792bn, up 9.6% YoY.

• 9M investment profits rose 40.0% to KRW2,399bn; Q3 investment profits fell 21.9% to KRW541bn.

• 9M insurance service results fell 2.8% to KRW1,063bn; Q3 results rose 102.4% to KRW529bn.

• Expense variance improved 33% YoY; a favorable first-instance ordinary-wage ruling prompted a KRW52bn retirement benefit provision reversal.

• Dividend income rose 12.8% YoY to KRW1,488bn in 9M FY26.

Outlook and guidance

• Q4 insurance service results remain difficult to estimate; updated claims and lapse experience may cause CSM losses in some segments.

• Q4 simplified-underwriting products will use loss-ratio assumptions of 90% or higher; expected impact is significantly below the KRW400bn Q2 impact from standard-policy assumption changes.

• A Value-up roadmap, including progress toward a 50% shareholder return ratio by 2028, is planned by February or early 2027.

• Overseas pre-tax earnings mix target is 20% or higher within 10 years, with expansion focused on growth markets and selective investment.

• Mid-term ESG targets include net-zero carbon neutrality by 2050 and eco-friendly finance of KRW20tn or more by 2030.