Q2 2021 Samsung Life Insurance Co Ltd Earnings Call Transcript
Good morning, everyone. This is Ho-Seok Yoo, CFO of Samsung Life. Despite the tough business environment continuing throughout the first half of 2021 due to the prolonging COVID-19 pandemic, the company attained a favorable first half earnings results in terms of both business growth and profitability compared to the previous year.
Our first half net profit recorded KRW 1,165 billion, increasing 71.6% year-on-year backed by the improvement in investment margin. Meanwhile, value of new business, which is the company's long-term profitability index, improved by 28%, showing double-digit growth, thanks to the favorable sales in health products.
The company retained its market leader position by securing 25.2% of market share in the protection market, along with the growth of policyholders now reaching 8.2 million persons. Furthermore, our capital adequacy has maintained at a superior level.
Next, I will go over the net profit in more detail. First half pretax income came in at KRW 1,556 billion, which consists of KRW 272 billion of risk margin, KRW 1,221
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