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Home > Financial Info > 2005 > Profit & loss account
Profit & loss account
19th (current) period as at March 31th 2006
18th (precious) period as at March 31th 2005
Company Name: Mirae Asset Life Insurance Co., Ltd.
Summary
(unit : Won)
Accounts 19th period 18th period
  Amount   Amount
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 19th period 18th period
  Amount   Amount
1. Policy Holder Reserves Transfer 0 11,099,289,052 0 (13,720,871,599)
2. Insurance Payout 0 88,594,577,189 0 27,178,838,599
Insurance Payout Expense 81,766,702,899 0 26,297,942,187 0
Refund Expense 6,827,874,290 0 880,896,349 0
Dividend Expense 0 0 0 0
3. Minimum Guarantee Expense 0   0 2,000,664
Variable Death Insurance 33,404,208 0 634,494 0
Variable Annuity Reserve 233,346,861 0 1,366,170 0
Miscellaneous 0 0 0 0
4. Special Account Management Fee 0 4,352,219,129 0 925,726,129
Operating Expense Proportion of Reserves 804,411,503 0 792,547,433 0
Shareholders Equity 0 0 0 0
Miscellaneous 3,547,807,626 0 133,178,696 0
5. Fee Expense 0 163,880,212 0 71,991,578
6. Taxes & Dues 0 30,499,100 0 31,010,651
7. Depreciation Expense 0 0 0 0
8. Bad Debt Expenses 0 5,763,980 0 0
9. Property Management Fee 0 0 0 0
10. Loss on Disposal of Marketable Securities 0 2,886,035,787 0 355,349,481
11. Loss on Valuation of Marketable Securities 0 11,616,111,794 0 1,190,809,867
12. Loss on Disposal of Investment Assets 0 0 0 350,000
13. Loss on Valuation of Investment Assets 0 0 0 0
14. Loss on Disposal of Tangible Assets 0 0 0 0
15. Trust Account Deficit 0 0 0 0
16. Loss on Foreign Currency Transaction 0 0 0 0
17. Interest Expense 0 10,528,921 0 29,179,582
18. Other Expenses 0 208,260,161 0 582,168,030
Provision for Reserves 0 0 0 0
Total Expense 0 119,233,916,394 0 16,646,352,879
1. Insurance Premium Revenue 0 103,572,899,608 0 9,089,012,066
Individual Insurance Premiums 78,974,106,386 0 2,111,991,798 0
Group Insurance 24,598,793,222 0 6,977,020,268 0
2. Interest Revenue 0 6,873,862,699 0 5,722,187,573
Interest on Deposits 289,919,807 0 3,414,979 0
Interest on Marketable Securities 6,056,084,040 0 5,441,024,580 0
Interest on Loans 430,252,334 0 262,894,175 0
Other Interest Revenues 97,606,518 0 14,853,839 0
3. Dividend Revenue 0 135,951,769 0 3,870,000
4. Lease Revenue 0 0 0 0
5. Fee Revenue 0 0 0 0
6. Gain on Disposal of Marketable Securities 0 3,881,999,122 0 688,206,823
7. Gain on Valuation of Marketable Securities 0 4,364,761,206 0 1,120,656,956
8. Gain on Disposal of Investment Assets 0 0 0 0
9. Gain on Valuation of Investment Assets 0 0 0 0
10. Gain on Disposal of Tangible Assets 0 0 0 0
11. Trust Account Gain 0 0 0 0
12. Gain on Foreign Currency Transaction 0 0 0 0
13. Other Revenues 0 404,441,990 0 42,429,461
Recovery of Loss Amounts 0 0 0 0
Miscellaneous 404,441,990 0 42,429,461 0
Total Revenue 0 119,233,916,394 0 16,646,352,879