The insurance industry recorded a net profit of 9 trillion won in the first half of the year. Life insurance companies made more profit from investments than their core business. According to the Financial Supervisory Service on the 29th, the net profit of insurance companies in the first half of this year was 9.09 trillion won, up 3.4% from 8.78 trillion won in the same period last year. The net profit of life insurance companies was 4.51 trillion won, up 5.8% from 4.26 trillion won in the same period last year. In the case of life insurance companies, their profit from core business such as insurance contracts decreased by 1.1% to 1.53 trillion won, but their investment profit increased by 10.3% to 3.34 trillion won. The net profit of non-life insurance companies was 4.58 trillion won, up 1.1% from 4.52 trillion won in the same period last year. The Financial Supervisory Service analyzed that "the insurance industry's net profit increased due to a decrease in the loss ratio and an increase in investment profit." The loss ratio of life insurance companies in the first half of this year was 77.1%, down 1.6 percentage points from 78.7% in the same period last year. The loss ratio of non-life insurance companies was 83.1%, down 0.6 percentage points from 83.7% in the same period last year. The investment profit of insurance companies increased by 10.8% to 11.47 trillion won. The Financial Supervisory Service said, "The insurance industry's profit is expected to improve in the second half of the year as the interest rate is expected to rise and the value of investments such as stocks and bonds will increase."

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