We achieved a strong year-on-year growth of 16.4% in gross written premiums, with net written premiums growing by 21.1% in 2022.
In 2022, Korean Re made important strides forward, delivering steady growth and stable profit. We achieved a strong year-on-year growth of 16.4% in gross written premiums, which totaled KRW 9,878.6 billion, with net written premiums growing by 21.1% to KRW 7,337.6 billion. This robust top-line performance was driven by our new coinsurance business and a sharp recovery in premium growth for our overseas business. We also reported a bottom-line increase of 2.9%, with after-tax net income amounting to KRW 157.9 billion. At the end of 2022, our total assets increased by 14.2% year on year to KRW 14,978.1 billion, while there was an 18.8% rise in invested assets, which totaled KRW 8,534.7 billion.
60 Years of Growth
Korean Re is celebrating its 60th anniversary in 2023.
In Asian culture, 60 years marks one full cycle of life, and the 60th birthday is regarded as a monumental point and the beginning of a new life cycle. We are both happy and grateful to enter into 2023 to start a new corporate life cycle, setting off to reinvent ourselves to bring innovation to our business and work toward a better future. Just as we have grown strongly in lockstep with the growth of our clients over the last six decades, we will continue to remain a solid partner for them.