Tong Yang Life Insurance Income Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Premiums & Annuity Revenue	1,274,659	1,241,272	1,132,353	1,041,462	4,372,779	4,916,599
Total Interest & Dividend Income	1,071,193	1,005,714	930,431	1,013,397	955,920	936,222
Gain (Loss) on Sale of Investments	415,854	323,129	594,892	144,852	297,966	718,415
Other Revenue	250,534	210,327	370,832	360,282	54,994	70,948
Total Revenue	3,012,238	2,780,440	3,028,509	2,559,993	5,681,660	6,642,184
Revenue Growth (YoY)	-1.54%	-8.19%	18.30%	-54.94%	-14.46%	14.20%
Policy Benefits	2,234,540	1,838,051	1,957,821	1,602,612	4,360,678	4,878,721
Policy Acquisition & Underwriting Costs	319	781	636	388	389,215	415,655
Amortization of Goodwill & Intangibles	9,257	7,357	7,249	6,594	5,577	4,438
Depreciation & Amortization	3,302	2,622	2,345	2,244	16,129	17,436
Selling, General & Administrative	49,342	79,209	87,394	69,316	101,805	116,889
Other Operating Expenses	567,397	665,905	378,578	668,334	130,425	154,431
Reinsurance Income or Expense	-25,242	-41,346	-17,954	-17,515	-84,037	-76,977
Total Operating Expenses	2,874,262	2,644,323	2,509,970	2,410,414	5,197,888	5,755,792
Operating Income	137,977	136,118	518,538	149,578	483,772	886,392
Interest Expense	-160,859	-132,246	-134,034	-68,883	-14,227	-14,454
Earnings From Equity Investments	2,224	5,558	616	-29,866	22,007	19,436
Currency Exchange Gain (Loss)	384,328	609,921	161,516	423,276	522,142	-209,301
Other Non Operating Income (Expenses)	-19,561	-2,015	11,356	3,176	-4,053	-20,129
EBT Excluding Unusual Items	344,109	617,336	557,992	477,281	1,009,641	661,945
Gain (Loss) on Sale of Investments	-158,749	-245,735	-251,768	-494,973	-659,531	-496,265
Gain (Loss) on Sale of Assets	2,641	-547	1,435	-546	175	-277
Asset Writedown	-	-	-	-	-	-1
Pretax Income	188,001	371,054	307,659	-18,239	350,285	165,402
Income Tax Expense	8,632	56,761	67,833	-6,880	74,666	45,342
Earnings From Continuing Ops.	179,369	314,293	239,826	-11,359	275,619	120,060
Net Income	179,369	314,293	239,826	-11,359	275,619	120,060
Net Income to Common	179,369	314,293	239,826	-11,359	275,619	120,060
Net Income Growth	-37.45%	31.05%	-	-	129.57%	4.20%
Shares Outstanding (Basic)	156	156	156	156	156	156
Shares Outstanding (Diluted)	156	156	156	156	156	156
Shares Change (YoY)	0.09%	0.03%	0.02%	-	-	-
EPS (Basic)	1149.51	2015.48	1538.47	-72.88	1768.39	770.31
EPS (Diluted)	1149.51	2015.48	1538.47	-72.88	1768.39	770.31
EPS Growth	-37.51%	31.00%	-	-	129.57%	4.20%
Free Cash Flow	2,321,615	-397,175	1,044,277	-357,864	1,013,391	606,825
Free Cash Flow Per Share	14878.28	-2546.98	6698.98	-2296.08	6501.99	3893.43
Operating Margin	4.58%	4.90%	17.12%	5.84%	8.52%	13.35%
Profit Margin	5.96%	11.30%	7.92%	-0.44%	4.85%	1.81%
Free Cash Flow Margin	77.07%	-14.29%	34.48%	-13.98%	17.84%	9.14%
EBITDA	167,120	163,460	541,550	172,389	505,478	908,266
EBITDA Margin	5.55%	5.88%	17.88%	6.73%	8.90%	13.67%
D&A For EBITDA	29,143	27,342	23,012	22,811	21,706	21,874
EBIT	137,977	136,118	518,538	149,578	483,772	886,392
EBIT Margin	4.58%	4.90%	17.12%	5.84%	8.52%	13.35%
Effective Tax Rate	4.59%	15.30%	22.05%	-	21.32%	27.41%

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.