Go to Contents Go to Navigation

Overseas branches of Korean insurers return to black in H1

All News 12:00 September 20, 2018

SEOUL, Sept. 20 (Yonhap) -- Overseas branches of South Korean insurance firms returned to the black in the first half, thanks to a modest decline in loss ratios, government data showed Thursday.

The overseas branches posted a combined net profit of US$38.5 million in the January-June period, compared with a net loss of $1 million a year ago, according to the data by the Financial Supervisory Service (FSS).

Overseas branches of Korean insurers return to black in H1 - 1

Korean insurers operate 35 branches in 11 nations, including nine in the United States and five in China.

At the end of June, the total assets of insurers' overseas branches stood at $4.94 billion, up 13.7 percent from a year ago, the data showed.

Their total liabilities stood at $2.69 billion, up 10 percent from a year earlier, according to the data.

kdh@yna.co.kr
(END)

Issue Keywords
Most Liked
Most Saved
Most Viewed More
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!