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South Korea: Insurers' earnings drop 14.2%

February 24, 2014 - 6:00am

South Korea's insurance industry registered a 14.2% year-on-year decrease in combined net income to 3.82 trillion South Korean won ($3.61 billion) for the April 2013 to December 2013 period, the Financial Supervisory Service said.

Nonlife insurers' earnings fell 20.2% during the period, Yonhap News Agency reported.

The industry's combined premium amounted to KRW 126.68 trillion ($119.99 billion), a 3.7% year-on-year decline.

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