Korean Reinsurance : · Korean Re's Business Results for Ja...

Korean Re reported a 4.6% increase in gross written premiums for January to November of 2016 compared to the same period a year before, with net written premiums growing 6.7%. Gross written premiums totaled KRW 5,949.1 billion, and more than 45% of which came from personal lines of business. The company saw its personal-line premiums grow 5.2% year over year to KRW 2,695 billion.

Its commercial lines of business turned around to positive growth from the beginning of the third quarter due in part to the introduction of the compulsory environmental impairment liability insurance in July. Premium income from overseas business rose 4.8% to KRW 1,327 billion. The combined ratio increased 1.8%p year over year to 97.7%, with overseas accounts reporting a 3.9%p increase. U

nderwriting income for the 11 months was KRW 93.2 billion, down 30.4% from the same period of the previous year, while investment income grew 15.9% to KRW 137.5 billion. The company posted a relatively solid net income of KRW 172.6 billion for the first 11 months of the year, although it was lower than the previous year's record high level of KRW 201.6 billion. As of November 30, the total assets of the company reached KRW 9,273.3 billion, up 3.2% year over year.