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Home > Financial Info > 2006 > Profit & loss account
Profit & loss account
20th (current) period as at March 31th 2007
19th (precious) period as at March 31th 2006
Company Name: Mirae Asset Life Insurance Co., Ltd.
Summary
(unit : Won)
Accounts 20th period 19th period
  Amount   Amount
I. Operating Revenues   1,812,813,245,789   1,817,292,410,882
1. Insurance Premium Revenue 1,214,152,127,064   1,256,467,712,496  
2. Reinsurance Premium Revenue 122,835,096,525   128,868,082,649  
3. Interest Revenue 208,921,849,595   224,713,752,632  
4. Dividend Revenue 10,997,944,711   1,754,990,648  
5. Lease Expense 3,356,686,172   3,588,479,150  
6. Fee Revenue 10,708,909,290   1,899,091,229  
7. Special Account Revenue Fee 35,353,770,777   7,246,193,234  
8. Gains on Disposal of Trading securities 7,188,340,820   7,413,740,771  
9. Gains on Valuation of Trading Securities 2,311,275,361   29,174,251  
10. Revenue Special Account 195,068,703,105   184,098,720,255  
11. Other Operating Revenues 1,918,542,369   1,212,473,567  
II. Operating Expenses   1,865,720,347,097   1,848,062,084,964
1. Recovery of Insurance Reserve 397,351,579,413   409,965,808,115  
2. Insurance Payout Expense 79,790,783,678   119,720,132,947  
3. Refund Expense 622,077,271,242   603,397,751,817  
4. Dividend Expense 1,982,413,898   2,310,077,487  
5. Reinsurance Payment Expense 124,605,646,719   130,686,219,525  
6. Interest Expense 4,135,556,544   9,573,968,199  
7. Loss on Disposal of Trading Securities 34,619,593   1,909,862,930  
8. Loss on Valuation of Trading Securities 3,962,054   1,351,734,557  
9. Operating Expenses 166,181,260,156   154,790,017,567  
10. Amortization of Acquisition Costs of New or Renewal Insurance Contracts 223,720,667,950   192,569,202,604  
11. Property Management Fee 19,346,859,556   16,028,269,703  
12. Depreciation Expense 17,752,575,535   9,722,692,770  
13. Intangible Assets Amortization Expense 7,423,444,990   6,686,231,286  
14. Bad Debt Expenses 2,440,327,223   2,914,598,130  
15. Discount Fee 123,486,699   153,609,931  
16. Expense Special Account 195,068,703,105   184,098,720,255  
17. Other Operating Expenses 3,681,188,742   2,183,187,141  
III. Operating Profit   52,907,101,308   30,769,674,082
IV. Non-operating Revenues   82,509,175,591   96,513,792,294
1. Gains on Disposal of Available-for-sale-securities 33,957,195,790   78,437,791,159  
2. Gains on Disposal of Available-for-sale-securities -   2,537,611,120  
3. Gain on Equity 1,791,717,010   -  
4. Gain on Disposal of Tangible Assets -   139,000  
5. Recovery of Provision for Bad Debts 217,740,031   53,595,975  
6. Gains on Derivative Transactions 6,771,242,306   8,098,051,646  
7. Gain on Valuation of Derivatives 5,764,332,513   6,438,307,586  
8. Gain on Foreign Currency Transaction 5,687,969
   423,592,302  
9. Gain on Foreign Currency Translation 181,334,344   -  
10. Miscellaneous Gains 33,819,925,628   524,703,506  
V. Non-operating Expense   19,670,444,009   25,682,796,453
1. Loss on Disposal of Available-for-sale-securities 4,804,522,630   540,646,558  
2. Loss on Devaluation of Securities Owned to Maturity -   70,225,000  
3. Loss on Disposal of Investment Assets 306,429,962   -  
4. Loss on Devaluation of Investment Assets 340,718,788   -  
5. Loss on Disposal of Tangible Assets 30,282,815   84,290,215  
6. Loss on Devaluation of Tangible Assets 932,927,072   -  
7. Loss on Disposition of Other Assets -   10,230,390  
8. Donations 46,880,383   24,566,850  
9. Loss on Derivative Transactions 1,665,150,515   5,387,455,328  
10. Loss on Valuation of Derivatives 100,095,473   25,922,498  
11. Loss on Foreign Currency Transaction 1,455,583,901   1,529,618,904  
12. Loss on Foreign Currency Translation 9,538,928,098   13,500,091,520  
13. Miscellaneous Losses 448,924,372   4,509,749,190  
VI. Ordinary Profit   9,931,630,274   40,061,321,759
VII. Extraordinary Profit   -   -
VIII. Extraordinary Losses   -   -
IX. Net Profit Before Income Tax   9,931,630,274   40,061,321,759
X. Income Tax Expense   (-)24,687,275,243   10,994,807,212
XI. Net Profit   34,618,905,517   29,066,514,547
Ordinary Profit Per Share
Net Profit Per Share
current period: 411 won
previous period: 419 won		        
Special Accounts
(unit : Won)
Accounts 20th period 19th period
  Amount   Amount
1. Policy Holder Reserves Transfer - 506,250,759,390 - 280,192,152,934
2. Insurance Payout - 199,844,043,660 - 122,359,620,078
Insurance Payout Expense 146,844,950,972 - 92,803,068,808 -
Refund Expense 52,999,092,688 - 29,556,551,270 -
Dividend Expense - - - -
3. Minimum Guarantee Expense - 1,452,369,799 - 338,837,597
Variable Death Insurance 217,917,406 - 39,222,992 -
Variable Annuity Reserve 1,234,452,393 - 299,614,605 -
Miscellaneous - - - -
4. Special Account Management Fee - 35,353,731,802 - 7,246,193,234
Operating Expense Proportion of Reserves 3,382,243,892 - 3,243,961,162 -
Shareholders Equity 27,224,825 - 286,307,145 -
Miscellaneous 31,944,263,085 - 3,715,924,927 -
5. Fee Expense - 666,865,485 - 644,869,211
6. Taxes & Dues - 132,436,170 - 156,101,720
7. Depreciation Expense - - - -
8. Bad Debt Expenses - 82,966,076 - 68,158,084
9. Property Management Fee - - - -
10. Loss on Disposal of Marketable Securities - 12,501,357,575 - 12,983,614,786
11. Loss on Valuation of Marketable Securities - 4,896,855,346 - 4,095,985,463
12. Loss on Disposal of Investment Assets - - - -
13. Loss on Valuation of Investment Assets - - - -
14. Loss on Disposal of Tangible Assets - - - -
15. Trust Account Deficit - - - -
16. Loss on Foreign Currency Transaction - - - -
17. Interest Expense - 31,863,686 - 38,413,805
18. Other Expenses - 5,450,315,248 - 6,881,142,485
Provision for Reserves - - - -
Total Expense - 766,663,564,237 - 435,005,089,397
1. Insurance Premium Revenue - 664,396,086,427 - 376,673,453,381
Individual Insurance Premiums 494,814,946,729 - 226,368,535,762 -
Group Insurance 169,581,139,698 - 150,304,917,619 -
2. Interest Revenue - 32,635,758,737 - 25,479,234,060
Interest on Deposits 2,368,518,813 - 358,344,690 -
Interest on Marketable Securities 26,190,428,924 - 22,904,712,107 -
Interest on Loans 3,206,814,356 - 1,726,130,552 -
Other Interest Revenues 869,996,644 - 490,046,711 -
3. Dividend Revenue - 3,880,798,514 - 1,186,577,615
4. Lease Revenue - - - -
5. Fee Revenue - - - -
6. Gain on Disposal of Marketable Securities - 20,971,129,674 - 19,145,308,112
7. Gain on Valuation of Marketable Securities - 42,095,931,104 - 11,173,656,903
8. Gain on Disposal of Investment Assets - - - -
9. Gain on Valuation of Investment Assets - - - -
10. Gain on Disposal of Tangible Assets - - - -
11. Trust Account Gain - - - -
12. Gain on Foreign Currency Transaction - - - -
13. Other Revenues - 2,683,859,781 - 1,346,859,326
Recovery of Loss Amounts - - - -
Miscellaneous 2,683,859,781 - 1,346,859,326 -
Total Revenue - 766,663,564,237 - 435,005,089,397