Last year, insurance companies recorded a net profit exceeding 13 trillion won (US$9.68 billion), marking a record high performance in history.According to the “2023 Insurance Company Management Performance” report released by the Financial Supervisory Service on March 26, the combined net profit of
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.At Hyundai M&F, 2024E P/B sits at only 0.39x, well below that for Samsung F&M (0.76x) and DB Insurance (0.59x). Although its shareholder return momentum is weak, Hyundai M&F offers limited valuation b
Shinhan Financial Group announced on Feb. 7 that it has received the “Leadership A” rating in the CDP Climate Change category announced by the Korean Committee of the Carbon Disclosure Project (CDP) on Feb. 6, making it the only domestic financial institution to achieve this distinction.CDP is a glo
SK hynix Inc. announced today that it recorded an operating profit of 346 billion won (US$259 million) in the fourth quarter of last year amid a recovery of the memory chip market, marking the first quarter of profit following four straight quarters of losses.The company posted revenues of 11.31 tri
Hyundai Motor Group running Hyundai Motor and Kia Corp. is expected to have set a new sales record in 2023. It is also expected to claim the No. 3 global position for the second consecutive year.Hyundai Motor and Kia Corp. are expected to have logged record annual operating profits of 15 trillion wo
LG Electronics continued its strong performance in 2023, setting new records in sales for the third consecutive year and achieving significant growth. Notably, in the fourth quarter of 2023, its operating profit surged by an impressive 350.9% compared to the same period last year, demonstrating soli
Samjong KPMG (KPMG Korea) predicts that the semiconductor and smartphone markets will rebound in 2024 thanks to the full-scale commercialization of artificial intelligence (AI) technology. On the other hand, the automobile, shipping, construction, and distribution industries are likely to show slugg
This year has seen a significant improvement in the profits of insurance companies, largely attributed to the substantial increase in insurance gains following the introduction of the new IFRS17 international accounting standard. As banks, which have made large-scale interest income this year, are p
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Through its 3Q23 earnings announcement, Samsung F&M demonstrated stable underwriting profit, excellent new contract creation ability, and only limited impact from the implementation of IFRS17 actuaria
Coway Co., Ltd., the “Best Life Solution Company,” today reported financial results for the third quarter of 2023."We’re delighted to report another stable quarter, thanks in part to the expansion of our successful sleep and wellness brand, BEREX, as well as our strategic investments in R&D, IT, and
The author is an analyst for NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.Hanwha Corp’s in-house businesses have been resettled as construction, global, and momentum. The expansions of its green energy/materials and high-value added new ventures are to usher in earnin
As financial authorities announced a one-year delay in the mandatory implementation of Environmental, Social, and Governance (ESG) disclosure, originally targeted for 2025, the business sector breathed a sigh of relief, stating that this extra time would allow them to better prepare for the regulati
Hyundai Securities said in a company analysis report on Samsung Life Insurance on Sept. 22 that Korea’s biggest life insurer is expected to continue to increase its dividends in the mid to long term as it needs to serve as a major source of funds for deferred payment of the large inheritance tax by
In the first half of this year, insurance companies achieved a net profit of nearly 10 trillion won (US$7.56 billion), driven by increased sales of guaranteed insurance policies and the positive effects of implementing new accounting standards, specifically IFRS9 and IFRS17.According to the prelimin
Amid the controversy surrounding economic slowdown and the newly implemented IFRS 17 accounting standards starting this year, insurance companies have managed to achieve first-half profits comparable to the “top 5 banks” in the financial sector.According to the insurance industry on Aug. 16, the con
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Although Hyundai M&F’s claims and expenses proved greater than estimated amounts in 1H23, we view the result as being a temporary issue stemming from the company’s relatively high portion of children’
The Financial Supervisory Service (FSS) has responded to the complex issue surrounding the accounting treatment of Contractual Service Margins (CSM), which is considered a future revenue indicator under the new insurance accounting standard, IFRS 17. Given the initial apprehensions about potential e
Hyundai Motor once again achieved a record-breaking quarterly performance, surpassing 4 trillion won (US$3.14 billion) in operating profit for the second quarter of this year. Despite this remarkable feat, the company’s stock price on the KOSPI market remains stuck in a holding pattern.On July 26, H
As the Korean insurance industry’s performances have improved this year, shareholders have much anticipation for an increase in dividends but insurers are hesitant to specify their dividend policies. This is because the introduction of the new accounting standard, IFRS17, and the new employee benefi
The author is an analyst for NH Investment & Securities. He can be reached at junsup@nhqv.com -- Ed.Samsung Life’s shareholder return is to strengthen in response its high capital ratio and better profit scale and stability following transition to IFRS17. The impact of IFRS17 actuarial assumption gu