Hanwha General Insurance's Solvency Ratio Improves to 220.8% in Q1... Maintains Stable Financial Soundness Despite Profit Decline

The K-ICS solvency ratio improved to 220.8% after transition measures (183.6% before), up from 215.8% a year ago and 209.0% at year-end 2025.
Consolidated net profit fell 16.5% YoY to KRW 106.4 billion (KRW 127.5 billion in Q1 2025), while separate net profit dropped 30.7% to KRW 98.9 billion.
Insurance service result declined to KRW 69.6 billion from KRW 109.9 billion, but investment result rose to KRW 66.2 billion from KRW 62.9 billion.
Completed the absorption merger with Carrot General Insurance without issuing new shares, avoiding shareholder dilution.
No year-end dividend was declared for 2025; the company plans to announce a shareholder return policy as part of a value-up program.
Treasury shares of 1,118,489 (0.72%) remain unchanged with no buyback or cancellation during the quarter.
Maintains strong credit ratings: S&P/A.M.Best A, domestic agencies AA.
[AI Summary]Hanwha General Insurance demonstrated financial stability with an improved solvency ratio and solid credit ratings, but net profit declines and lack of dividends are concerns. The overall performance is neutral as investment gains partially offset weaker insurance results.