Mirae Asset - Mirae Asset Life Insurance

FY2008 1st Quarter

2007

2006

2005

- Profit & loss account

Home > Financial Info > 2004 > Profit & loss account

Profit & loss account

18th (current) period as at March 31th 2005
17th (precious) period as at March 31th 2004
Company Name: Mirae Asset Life Insurance Co., Ltd.

Summary

(unit : Won)

Accounts	18th period		17th period
Accounts	Retirement insurance	Variable insurance	Retirement insurance	Variable insurance
I. Operating Revenues		1,814,156,972,664		1,705,315,469,559
1. Insurance Premium Revenue	1,228,259,965,714		1,211,246,167,691
2. Reinsurance Premium Revenue	119,816,121,759		113,071,184,390
3. Interest Revenue	220,636,866,156		214,974,508,551
4. Dividend Revenue	1,527,500,000		904,586,500
5. Lease Expense	4,993,509,260		5,012,637,246
6. Fee Revenue	2,176,594,086		2,527,247,067
7. Gains on Disposal of Trading securities	13,048,019,843		8,796,548,302
8. Gains on Valuation of Trading Securities	1,511,513,290		2,872,990,953
9. Subsidiary Fee Revenue Account	3,422,174,819		3,528,484,519
10. Recovery of Provision for Bad Debts	565,308,862		79,174,399
11. Subsidiary Revenue Account	218,125,259,746		142,264,692,868
12. Other Operating Revenues	74,139,129		37,247,072
II. Operating Expenses		1,770,969,170,180		1,662,589,017,588
1. Recovery of Insurance Reserve	386,913,959,329		348,668,131,523
2. Insurance Payout Expense	107,383,449,044		149,151,929,732
3. Refund Expense	602,270,624,953		564,740,593,326
4. Dividend Expense	3,161,602,814		4,739,564,732
5. Reinsurance Payment Expense	121,350,413,500		114,184,018,126
6. Interest Expense	13,987,338,339		18,813,556,911
7. Loss on Disposal of Trading Securities	2,223,402,102		1,554,695,331
8. Loss on Valuation of Trading Securities	825,031,767		239,628,574
9. Operating Expenses	193,268,135,785		194,543,895,588
10. Amortization of Acquisition Costs of New or Renewal Insurance Contracts	82,918,385,070		88,026,105,358
11. Property Management Fee	14,805,717,929		14,006,561,638
12. Depreciation Expense	9,600,760,691		10,015,115,826
13. Intangible Assets Amortization Expense	4,951,930,092		3,569,870,902
14. Bad Debt Expenses	8,824,664,095		7,787,427,776
15. Discount Fee	150,237,924		217,801,887
16. Subsidiary Expense Account	218,125,259,746		142,264,692,868
17. Other Operating Expenses	208,257,000		65,427,490
III. Operating Profit		43,187,802,484		42,726,451,971
IV. Non-operating Revenues		69,719,466,845		32,400,310,080
1. Gains on Disposal of Available-for-sale-securities	12,088,219,430		18,267,433,563
2. Recovery of Loss on Devaluation of Available-for-sale-securities	34,257,983		-
3. Recovery of Loss on Devaluation of Securities Owned to Maturity	48,066,356		-
4. Gain on Disposal of Investment Assets	1,799,265,049		-
5. Gain on Disposal of Tangible Assets	1,552,728,719		1,041,000
6. Gain on Disposition of Other Assets	-		694,000,000
7. Gains on Derivative Transactions	6,766,027,196		4,205,687,115
8. Gain on Valuation of Derivatives	46,556,801,508		7,090,409,121
9. Gain on Foreign Currency Transaction	11,799,570		37,504,229
10. Gain on Foreign Currency Translation	69,000,000		-
11. Miscellaneous Gains	793,301,034		2,104,235,052
V. Non-operating Expense		50,751,363,595		15,737,600,580
1. Loss on Disposal of Available-for-sale-securities	3,767,173,842		645,681,158
2. Loss on Devaluation of Securities Owned to Maturity	-		2,552,016,456
3. Loss on Disposal of Investment Assets	2,865,806,887		-
4. Loss on Disposal of Tangible Assets	624,025,154		15,520,092
5. Loss on Derivative Transactions	496,956,378		547,829,623
6. Loss on Valuation of Derivatives	1,332,781,231		427,960,000
7. Loss on Foreign Currency Transaction	2,566,049,803		446,876,135
8. Loss on Foreign Currency Translation	37,912,802,969		10,355,775,432
9. Donations	44,907,231		104,433,000
10. Miscellaneous Losses	1,140,860,100		641,508,684
VI. Ordinary Profit		62,155,905,734		59,389,161,471
VII. Extraordinary Profit		-		-
VIII. Extraordinary Losses		-		-
IX. Net Profit Before Income Tax		62,155,905,734		59,389,161,471
X. Income Tax Expense		18,936,334,855		42,750,106,774
XI. Net Profit		43,219,570,879		16,639,054,697
Ordinary Profit Per Share current period: 797 won previous period: 337 won Net Profit Per Share current period: 797 won previous period: 337 won

Special Accounts

(unit : Won)

Accounts	18th period		17th period
Accounts	Retirement insurance	Variable insurance	Retirement insurance	Variable insurance
I. Earnes Insurance Premiums	187,749,006,874	1,424,181,615	109,819,698,369	59,605,333
1. Insurance Premium Revenue	187,749,006,874	1,424,181,615	109,819,698,369	59,605,333
II. Incurred Damages	131,143,275,304	0	128,819,723,407	49,800
1. Insurance Payout Expense	68,588,655,855		69,533,037,311
2. Refund Expense	62,554,619,449		59,286,686,096	49,800
III. Minimum Guarantee Expense		30,767,823	0	10,773,628
IV. Net Operating Expense	4,041,343,648	229,234,410	4,332,588,144	58,171,279
1. Subsidiary Management Fee Account	3,202,100,177	220,074,642	3,473,979,750	54,504,769
2. Fee Expense	662,211,191	8,573,218	597,420,364	3,495,267
3. taxes & dues	663,308,057	586,550	229,999,706	171,243
4. Bad Debt Expenses	13,724,223		31,188,324
V. Investment Operatin Revenues	30,376,192,872	878,132,690	32,444,994,499	764,434,551
1. Interest Revenue	22,650,378,487	366,437,425	24,749,927,335	285,581,415
2. Dividend Revenue	51,425,000	60,510,445	37,750,000	42,261,650
3. Revenues on Disposal of Trading Securities	6,008,219,093	179,255,549	4,550,572,476	88,915,279
4. Gains on Valuation of Trading Securities	1,547,601,626	266,108,416	3,039,502,522	347,440,396
5. Other Revenues	118,568,666	5,820,855	67,246,166	235,811
VI. Investment Operating Expense	6,805,420,301	753,672,622	3,783,583,854	702,037,601
1. Loss on Disposal of Trading Securities	4,178,900,488	27,907,902	3,091,485,121	119,323,174
2. Loss on Valuation of Trading Securities	2,545,249,369	152,059,049	628,257,454	753,774
3. Interest Expense	81,270,444	4,324	63,841,279
4. Other Expenses		573,201,347		581,990,653
VII. Policy Holder Reserves Transfer	76,135,220,493	1,289,139,450	5,328,797,463	53,007,576
VIII. Extraordinary Profit
IX. Extraordinary Losses
X. Income Tax Expense
XI. Net Profit