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Korean Re net income jumps 77.6% as underwriting and investments improve
For the three months to June 2026, Korean Re reported a combined ratio of 87.9%, improving from 88.1% a year earlier, and investment profit rose sharply on higher valuation gains.
Korean Re, South Korea’s specialist reinsurance company, said its net income rose 77.6% to KRW 347.3 billion for the first half of 2026, driven by improved reinsurance performance and stronger investment results, Reinsurance News reported.
The company’s revenue from insurance and investment increased 4.2% year on year to KRW 3,652.1 billion for the three months to June 2026. Korean Re attributed part of the uptick to growth in overseas insurance revenue and higher valuation gains on foreign bonds after foreign exchange rates rose, while noting that increases in insurance finance expenses linked to foreign currency liabilities largely offset those exchange movements.
Korean Re reported a combined ratio of 87.9% for the period, improving from 88.1% in the prior year. It said its reinsurance business strengthened its profit base through improved P/F and a reduction in large losses, with no major claims in the quarter and actual large loss claims of KRW 18.2 billion versus a budget of KRW 56 billion.
Investment profit rose to KRW 304.4 billion, up KRW 210.7 billion or 224.9% from KRW 93.7 billion a year earlier, and operating income climbed 83.9% to KRW 465.9 billion. Korean Re also reported gains on stocks increased by KRW 205.6 billion, supported by strong performance in the KOSPI index, and said annualised return on equity improved to 18.2% from 11.3% in the same period of 2025.
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