April 25, 2024
Finance
[EQUITIES] ‘Hanwha Life strong on whole life insurance policies’
[THE INVESTOR] Hanwha Life Insurance performed better than expected, with a 150.4 billion won (US$129.11 million) operating profit in the third quarter, said Mirae Asset Securities on Nov. 11.
The securities firm maintained a “buy” recommendation and target price of 8,000 won saying that its operating income rose 6.4 percent on-year, 14.7 percent higher than market consensus, due to the “increase in sales of whole life insurance and critical illness policies.”
“Hanhwa also improved cost-efficiency and as it focuses on coverage insurances its profitability in insurance sales will continue to rise,” said analyst Won Jae-ung, adding that the lowering loss ratio of risk premium down to 75.7 percent, in particular, is promising.
By Hwang You-mee (glamazon@heraldcorp.com)
The securities firm maintained a “buy” recommendation and target price of 8,000 won saying that its operating income rose 6.4 percent on-year, 14.7 percent higher than market consensus, due to the “increase in sales of whole life insurance and critical illness policies.”
“Hanhwa also improved cost-efficiency and as it focuses on coverage insurances its profitability in insurance sales will continue to rise,” said analyst Won Jae-ung, adding that the lowering loss ratio of risk premium down to 75.7 percent, in particular, is promising.
By Hwang You-mee (glamazon@heraldcorp.com)
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