Shinhan Life Emerges as the Top Performer Among Financial Holding Companies' Life Insurers - Excelling in Profitability and Growth
Shinhan Life has solidified its position as the top life insurer within the financial holding group Shinhan Life has solidified its position as the top life insurer within the financial holding group, significantly driving the non-banking sector profits of Shinhan Financial Group. With outstanding performance in net profit and insurance contract margin (CSM) compared to its competitor KB Life, and a substantial increase in annual premium equivalent (APE), Shinhan Life presents a promising outlook for future growth. Remarkable Achievements of Shinhan Life In the first half of 2024, Shinhan Life achieved a net profit of 312.9 billion KRW, surpassing KB Life Insurance's 202.3 billion KRW by over 100 billion KRW. While Shinhan Life saw a 0.4% increase compared to the previous year, KB Life experienced an 8.2% decline. This highlights Shinhan Life's superior growth amidst fierce competition among financial holding companies. Excelling in Insurance Contract Margin (CSM) Shinhan Life...