Hanwha General Insurance 2026 Q1: Net Profit Down 30.7% YoY, but Financial Soundness Maintained

2026 Q1 standalone: operating profit 130.6bn won, net profit 98.9bn won (down 30.7% YoY)
Consolidated: revenue 2.09tn won, operating profit 135.9bn won, net profit 106.5bn won
Completed absorption merger with Carrot Insurance in Oct 2025
Credit ratings: S&P A, A.M. Best A, Domestic AA (IFSR) – unchanged
K-ICS solvency ratio: 209.0% at end-2025 (stable)
Major lawsuits: administrative suit against FTC fine of 263mn won (1st trial ongoing); criminal collusion case appealed to Supreme Court (acquitted in lower courts)
Continuous grant of Restricted Stock Units (RSU) to executives
Plan to disclose value-up program including dividend policy within 2026

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