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Tongyang Life Insurance announced this week that it has already exceeded the 2015 profit goal by over 9 percent in the first nine months, recording 153.2 billion won ($134 million) net profit end-September.
The company had set a target of 140.5 billion won for the entire year.
According to its consolidated financial statement, Tongyang Life saw 3.6 trillion won in sales, with 190.0 billion won in operating profits during the period.
The company had set a target of 140.5 billion won for the entire year.
According to its consolidated financial statement, Tongyang Life saw 3.6 trillion won in sales, with 190.0 billion won in operating profits during the period.
The company’s profit increased by 13.5 percent compared to the same period last year with operating and net profits increasing by 40.7 percent and 27.7 percent, respectively.
The insurer has continued to show a positive trend in sales since hitting a record net profit last year.
A company spokesperson said the high profits were due to fact that the amount of guaranteed insurance products such as first monthly premium insurance increased by 30 percent compared to last year.
By Sang Youn-joo (sangyj@heraldcorp.com)
