FY2008 1st Quarter
  2007
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- Profitability
- Stability
- Capital adequacy
- Balance sheet
- Profit & loss account
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Home > Financial Info > 2007 > Profit & loss account
Profit & loss account
21th (current) period as at March 31th 2008
20th (precious) period as at March 31th 2007
Company Name: Mirae Asset Life Insurance Co., Ltd.
Summary
(unit : Won)
Accounts 21th period 20th period
  Amount   Amount
I. Operating Revenues   2,452,648,893,526   1,859,710,778,742
1. Insurance Premium Revenue 1,359,618,656,078   1,214,152,127,064  
2. Reinsurance Premium Revenue 114,968,159,850   122,835,096,525  
3. Interest Revenue 196,405,111,853   208,921,849,595  
4. Dividend Revenue 10,997,944,711   10,997,944,711  
5. Lease Expense 3,356,686,172   3,356,686,172  
6. Fee Revenue 54,502,375,067   10,708,909,290  
7. Special Account Revenue Fee 100,439,731,132   35,353,770,777  
8. Gains on Disposal of Trading securities 12,293,404,958   7,188,340,820  
9. Gains on Valuation of Trading Securities 84,519,237   2,311,275,361  
10. Revenue Special Account 437,059,501,027   195,068,703,105  
11. Other Operating Revenues 12,268,926,172   1,918,542,369  
II. Operating Expenses   2,443,734,776,656   1,883,284,627,714
1. Recovery of Insurance Reserve 343,386,314,883   397,351,579,413  
2. Insurance Payout Expense 114,685,028,422   79,790,783,678  
3. Refund Expense 729,061,704,916   622,077,271,242  
4. Dividend Expense 1,628,272,101   1,982,413,898  
5. Reinsurance Payment Expense 116,743,837,396   124,605,646,719  
6. Interest Expense 4,677,153,881   4,135,556,544  
7. Loss on Disposal of Trading Securities 211,313,125   34,619,593  
8. Loss on Valuation of Trading Securities 15,149,366   3,962,054  
9. Operating Expenses -   166,181,260,156  
10. Amortization of Acquisition Costs of New or Renewal Insurance Contracts 315,092,845,573   223,720,667,950  
11. Property Management Fee 56,066,493,772   22,632,080,332  
12. Depreciation Expense 22,763,260,126   17,752,575,535  
13. Intangible Assets Amortization Expense 6,902,260,087   7,423,444,990  
14. Bad Debt Expenses -   2,190,039,959  
15. Discount Fee 118,366,252   123,486,699  
16. Expense Special Account 437,059,501,027   195,068,703,105  
17. Other Operating Expenses 18,088,687,708   3,681,188,742  
III. Operating Profit   8,914,116,870   (23,573,848,972)
IV. Non-operating Revenues   11,776,657,807   35,611,642,638
1. Gains on Disposal of Available-for-sale-securities 119,085,937,346   33,957,195,790  
2. Gains on Disposal of Available-for-sale-securities -   -  
3. Gain on Equity 4,596,739,431   1,791,717,010  
4. Gain on Disposal of Tangible Assets -   -  
5. Recovery of Provision for Bad Debts 246,786,662   217,740,031  
6. Gains on Derivative Transactions 4,947,386,224   6,771,242,306  
7. Gain on Valuation of Derivatives 553,931,936   5,764,332,513  
8. Gain on Foreign Currency Transaction 1,682,721,735
   5,687,969  
9. Gain on Foreign Currency Translation 11,561,922,751   181,334,344  
10. Miscellaneous Gains 679,646,909   33,819,925,628  
V. Non-operating Expense   11,776,657,807   35,611,642,638
1. Loss on Disposal of Available-for-sale-securities 4,945,826,946   4,804,522,630  
2. Loss on Devaluation of Securities Owned to Maturity -   -  
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 24,356,181   30,282,815  
6. Loss on Devaluation of Tangible Assets -   932,927,072  
7. Loss on Disposition of Other Assets -   -  
8. Donations 166,939,922   46,880,383  
9. Loss on Derivative Transactions 2,689,995,739   1,665,150,515  
10. Loss on Valuation of Derivatives 13,460,558,766   100,095,473  
11. Loss on Foreign Currency Transaction 1,981,397,805   1,455,583,901  
12. Loss on Foreign Currency Translation 70,492   9,538,928,098  
13. Miscellaneous Losses 5,320,047,644   448,924,372  
VI. Ordinary Profit   13,701,126,557   9,931,630,274
VII. Extraordinary Profit   -   -
VIII. Extraordinary Losses   -   -
IX. Net Profit Before Income Tax   13,701,126,557   9,931,630,274
X. Income Tax Expense   9,296,247,234   (-)24,687,275,243
XI. Net Profit   4,404,879,323   34,618,905,517
Ordinary Profit Per Share
Net Profit Per Share
current period: 411 won
previous period: 419 won		        
Special Accounts
(unit : Won)
Accounts 21th period 20th period
  Amount   Amount
1. Policy Holder Reserves Transfer - 1 ,425,877,207,599 - 506,250,759,390
2. Insurance Payout - 370,902,585,557 - 199,844,043,660
Insurance Payout Expense 122,219,261,340 - 146,844,950,972 -
Refund Expense 248,683,324,217 - 52,999,092,688 -
Dividend Expense - - - -
3. Minimum Guarantee Expense - 3,504,053,550 - 1,452,369,799
Variable Death Insurance 684,877,975 - 217,917,406 -
Variable Annuity Reserve 2 ,819,175,575 - 1,234,452,393 -
Miscellaneous - - - -
4. Special Account Management Fee - 100,441,831,069 - 35,353,731,802
Operating Expense Proportion of Reserves 4 ,032,706,863 - 3,382,243,892 -
Shareholders Equity 72,539,280 - 27,224,825 -
Miscellaneous 96,336,584,926 - 31,944,263,085 -
5. Fee Expense - 1,517,066,663 - 666,865,485
6. Taxes & Dues - 190,836,090 - 132,436,170
7. Depreciation Expense - - - -
8. Bad Debt Expenses - 363,611,841 - 82,966,076
9. Property Management Fee - - - -
10. Loss on Disposal of Marketable Securities - 50,802,732,519 - 12,501,357,575
11. Loss on Valuation of Marketable Securities - 46,663,671,232 - 4,896,855,346
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 - 31,373,964 - -
17. Interest Expense - 42,312,866 - 31,863,686
18. Other Expenses - 44,704,487,855 - 5,450,315,248
Provision for Reserves - - - -
Total Expense - 2 ,045,041,770,805 - 766,663,564,237
1. Insurance Premium Revenue - 1 ,774,848,487,976 - 664,396,086,427
Individual Insurance Premiums 1,368,897,087,676 - 494,814,946,729 -
Group Insurance 405,951,400,300 - 169,581,139,698 -
2. Interest Revenue - 56,373,793,254 - 32,635,758,737
Interest on Deposits 8 ,383,047,860 - 2,368,518,813 -
Interest on Marketable Securities 37,462,909,893 - 26,190,428,924 -
Interest on Loans 7 ,765,594,847 - 3,206,814,356 -
Other Interest Revenues 2 ,762,240,654 - 869,996,644 -
3. Dividend Revenue - 5,930,152,327 - 3,880,798,514
4. Lease Revenue - - - -
5. Fee Revenue - 20,000,000 - -
6. Gain on Disposal of Marketable Securities - 107,416,188,120 - 20,971,129,674
7. Gain on Valuation of Marketable Securities - 56,578,269,411 - 42,095,931,104
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 - 719,488,231 - -
13. Other Revenues - 43,155,391,486 - 2,683,859,781
Recovery of Loss Amounts - - - -
Miscellaneous 43,155,391,486 - 2,683,859,781 -
Total Revenue - 2 ,045,041,770,805 - 766,663,564,237