Q4 2019 Hanwha Life Insurance Co Ltd Earnings Call Transcript
[Interpreted] Good morning. I am Sang-Wook Choi from the IR part at Hanwha Life Insurance. We provide consecutive interpretation in Korean and English for the fiscal year 2019 earnings conference, and you can find the presentation materials on our IR website.
Today, CFO, [Lee Kyung-Geun] will give a presentation, which will be followed by the Q&A session. Now I will hand over to CFO, [Lee].
[Interpreted] Good morning. I am CFO, [Lee Kyung-Geun]. I would first like to mention that the presentation was prepared solely for the convenience of the investors in accordance with the separate financial statements under K-IFRS, and some numbers are subject to change after a full financial audit. I will now begin the report.
Page 1 is key financials. The protection and other protection APE grew 25.2% and 93.4%, respectively, driving the total new business APE growth. The net income fell 68.1% year-over-year, mainly due to additional provisioning for variable guarantee
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