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Dongyang Life Insurance |
[Alpha Biz= Reporter Kim Minyoung] Dongyang Life Insurance announced on the 19th that Moody's (Moody's) has maintained Dongyang Life Insurance's corporate credit rating at "Baa1" and raised its rating outlook from "stable" to "Positive."
According to the company, Moody's highly valued Tongyang Life Insurance's solid and solid current investment profit and insurance contract margin, which has been on a steady rise.
"Profitability improved last year, with Tong Yang Life Insurance's return on capital (ROC) being higher than other domestic insurers given Moody's credit rating," Moody's said.
"The insurance contract margin for new contracts rose 34.6 percent to 760.2 billion won due to increased sales of life and health insurance products, and despite the high-interest rate environment, the return on net investment was also 3.8 percent, up from 2.7 percent in 2022," he added.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
