Insurance earnings increased 62% to $201.8m.
Hanwha Life has reported strong financial growth for the first half of 2026, driven by rising insurance and investment returns.
The South Korean insurer recorded a 96.0% year-on-year increase in consolidated net income to $640.9m (KRW905b).
Standalone net income rose by 183.9% to $361.1m (KRW510b) over the same period.
Insurance profit grew 62% year-on-year to $201.8m (KRW285b), supported by a reversal of onerous contracts.
Investment profit increased from $29.0m (KRW41b) a year earlier to $251.4m (KRW355b), boosted by valuation and disposal gains.
However, claims and expense variances recorded a negative impact of $104.8m (KRW148b).
New business Contractual Service Margin, which measures future profitability, rose 40.5% year-on-year to $920.6m (KRW1,300b).
This growth was supported by a shift toward longer premium-paying whole-life products, which accounted for 49% of the new business margin total.
The company’s estimated solvency position under the South Korean Insurance Capital Standard improved.
The K-ICS ratio reached 167% at the end of the second quarter, up 9.5 percentage points year-to-date and 4.9 percentage points quarter-on-quarter.
Available capital stood at $17.9b (KRW25,213b) against required capital of $10.7b (KRW15,100b), remaining above regulatory minimums.
Management targets a year-end K-ICS ratio above 165% and a core capital K-ICS ratio above 60%.
The company has absorbed a $170.0m (KRW240b) impact from tighter regulatory guidelines, with further monitoring focused on upcoming regulatory changes scheduled for 2027, credit rating agency CreditSights said in a research note.
($1.00 = KRW1,412.15)