Q1 2020 Hanwha Life Insurance Co Ltd Earnings Call Transcript
Good morning. I am Hyeon Cheol Kim, serving as CFO starting from May 1. First, I would like to mention that the presentation was prepared solely for the convenience of the investors based on 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 premium income and ACE grew 7.4% and 4.4%, respectively, on a Y-o-Y basis. Despite the temporary deterioration of the loss ratios, the net income recorded a 2.7% growth year over year thanks to the improvement in the expense ratio and investment return. The RBC ratio posted 245.6% on the back of higher valuation gains of securities available for sale.
Page 2 is on premium income. In the first quarter, despite concerns over the slower sales activity due to COVID-19, the premium income increased 7.4% year on year. The general account premium income posted a solid growth of 8.5% year over year thanks to the increase in protection sales. The portion of protection type in the
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