[Edaily Reporter Kim Se-yeon ] Samsung Life Insurance(032830)reported a net income of 823.9 billion won for the third quarter of this year, marking an 8.3% increase compared to the same period last year. The improvement in earnings was driven by a more than twofold year-over-year increase in quarterly insurance service income. However, investment income decreased by 21.9% compared to the same period last year.

Samsung Life Insurance announced on the 12th that its consolidated net income for the third quarter of this year was preliminarily estimated at 823.9 billion won. This represents an 8.3% increase compared to the same period last year (760.9 billion won) and a 13.3% increase compared to the previous quarter (727.4 billion won). Cumulative net income for the first three quarters of this year totaled 2.7916 trillion won, a 25.1% increase compared to the same period last year.
Profit from insurance services totaled 529.5 billion won, a 102.4% increase compared to the same period last year (261.6 billion won). It also rose by 91.4% compared to the previous quarter (276.6 billion won).
Profit from the Contract Service Margin (CSM) was 366.1 billion won, a 19.8% increase from the same period last year (305.6 billion won). The difference between actual and expected amounts—such as insurance claims—also turned from a deficit of 54.4 billion won in the third quarter of last year to a surplus of 136.6 billion won this year.
Due to a stock market correction, third-quarter investment gains and losses totaled 540.5 billion won, a 21.9% decrease from the same period last year (692.1 billion won). They also fell by 7.6% compared to the previous quarter (585.1 billion won). However, cumulative performance is on an upward trend. Cumulative investment gains and losses for the first through third quarters rose 40.0% year-over-year to 2.3985 trillion won.
The CSM balance, which represents the insurer’s future profits, stood at 14.564 trillion won as of the end of the third quarter, an increase of approximately 1.1111 trillion won compared to the end of last year (13.4529 trillion won).