2008 - Business scale - Profitability - Stability - Capital adequacy - Balance sheet - Profit & loss account   2007   2006   2005   2004 Home > Financial Info > 2008 > Profit & loss account Profit & loss account 22th (current) period as at March 31th 2009 21th (precious) period as at March 31th 2008 Company Name: Mirae Asset Life Insurance Co., Ltd. Summary (unit : Won) Accounts 22th period (current period) 21th period (previous period)   Amount   Amount I. Operating Revenues   2,501,659,056,306   2,452,648,893,526 1. Insurance Premium Revenue 1,433,330,590,216   1,359,618,656,078   A. Individual Insurance Premiums 1,409,925,962,759   1,340,876,938,318   B. Goup Insurance 23,404,627,457   18,741,717,760   2. Reinsurance Premium Revenue 104,081,049,209   114,968,159,850   A. Reinsurance Revenue 96,464,008,321   103,162,480,063   B. Fee revenue on Reinsurance 7,617,040,888   11,805,679,787   3. Interest Revenue 193,683,863,576   196,405,111,853   A. Interest on Deposits 17,182,234,615   12,402,573,147   B. Interest on Trading Securities 1,011,135,755   132,347,946   C. Interest on Available-for-Sale-Securities 43,863,005,657   42,072,719,593   D. Interest on Securities Owned to Maturity 51,354,962,856   52,108,087,636   E. Interest on Loans 78,442,061,950   86,363,463,072   F. Interest on Deposits 83,566,410   125,283,449   G. Other Interest Revenues 1,746,896,333   3,200,637,010   4. Gain on Valuation(Sales) of Securities 60,191,684,997   131,463,861,541   A. Gains on Valuation of Trading Securities 407,283,309   84,519,237   B. Gains on Disposal of Trading Securities 5,542,447,099   12,293,404,958   C. Gains on Disposal of Available-for-Sale-Securities 54,241,954,589   119,085,937,346   5. Gain on Valuation(Disposal) of Loans 1,854,805,239   2,414,949,509   A. Reversal of Allowance for Credit losses 1,854,805,239   2,414,949,509   6. Gain on Foreign Transactions 5,616,510,977   1,682,721,735   7. Gain on Foreign Currency Translation 51,308,520,100   11,561,922,751   8. Fee Revenue 28,517,129,925   54,502,375,067   9. Dividend Revenue 25,649,307,647   20,728,476,405   10. Lease Revenue 6,165,355,730   3,786,395,584   11. Special Account Revenue Fee 243,717,775,364   100,439,731,132   12. Revenue Special Account 317,187,579,782   437,059,501,027   13. Other Operating Revenues 30,354,883,544   18,017,030,994   A. Gains on Derivative Transactions 10,409,291,988   4,947,386,224   B. Gain on Valuation of Derivatives 716,647,841   553,931,936   C. Recovery of Provision for Bad Debts 37,748,101   246,786,662   D. Other Operating Revenues 19,191,195,614   12,268,926,172   II. Operating Expenses   2,566,276,462,420   2,443,734,776,656 1. Recovery of Insurance Reserve 377,171,272,417   343,386,314,883   2. Insurance Payout Expense 169,174,127,585   114,685,028,422   3. Refund Expense 673,338,535,369   729,061,704,916   4. Dividend Expense 1,506,776,785   1,628,272,101   5. Reinsurance Payment Expense 105,446,900,375   116,743,837,396   가. Reinsurance Premium 105,446,900,375   116,743,837,396   6. Operating Expenses 207,853,936,398   276,425,896,955   Deferred Acquisition Costs of New or Renewal Insurance Contracts (525,184,029,078)   (594,819,318,603)   A. Acquisition Costs of New or Renewal Insurance Contracts 536,528,482,980   672,924,041,530   B. Maintenance Costs 184,014,565,044   186,422,212,894   C. Collection Expense 12,494,917,452   11,898,961,134   7. Amortization of Acquisition Costs of New or Renewal Insurance Contracts 477,334,001,419   315,092,845,573   8. Property Management Fee 56,625,639,276   56,066,493,772   9. Interest Expense 3,722,128,436   4,677,153,881   10. Loss on Valuation(Sales) of Securities 46,285,006,974   5,172,289,437   A. Loss on Valuation of Trading Securities -   15,149,366   B. Loss on Disposal of Trading Securities 82,410,649   211,313,125   C. Loss on Disposal of Available-for-Sale-Securities 19,112,649,412   4,945,826,946   D. Unrecoverable losses on AFSs 7,255,946,913   -   E. Unrecoverable losses on HTM 19,834,000,000   -   11. Loss on Valuation(Disposal) of Loans 302,657,176   -   A. Bad Debt Expenses 302,657,176   -   12. Loss on Foreign Transactions 2,316,000,000   1,981,397,805   13. Loss on Foreign Exchanges Translation -   70,492   14. Depreciation Expenses on Investment in Real Estates 643,390,409   463,010,398   15. Intangible Assets Amortization Expense 9,411,204,673   6,902,260,087   16. Discount Fee 24,670,228   118,366,252   17. Separate Account Commission Paid 17,450,901,982   -   18. Expense Special Account 317,187,579,782   437,059,501,027   19. Other Operating Expenses 100,481,733,136   34,270,333,259   A. Loss on Derivative Transactions 38,443,612,852   2,689,995,739   B. Loss on Valuation of Derivatives 40,306,774,392   13,460,558,766   C. Bad Dbt Expenses 250,316,532   31,091,046   D. Other Operating Expenses 21,481,029,360   18,088,687,708   III. Operating Profit   (64,617,406,114)   8,914,116,870 IV. Non-operating Revenues   82,760,263,774   11,776,657,807 1. Gain on Rquity 527,027,114   4,596,739,431   2. Gain on Sales of Securities using Equity Method 68,599,773,318   4,521,758,339   3. Gain on Disposal of Tangible Assets 26,571,049   12,761,195   4. Gain on Disposition of Other Assets 2,347,178,505   470,479,948   5. Gain on Conversion of Convertible Bonds -   1,495,271,985   6. Miscellaneous Gains 11,259,713,788   679,646,909   V. Non-operating Expense   8,568,714,072   6,989,648,120 1. Loss on Equity 269,719,433   1,478,304,373   2. Loss on Sales of Securities using Equity Method 161,113,049   -   3. Loss on Disposal of Tangible Assets 2,314,339,814   24,356,181   4. Loss on Disposition of Other Assets 68,877,390   -   5. Donations 241,591,941   166,939,922   6. Miscellaneous Losses 5,513,072,445   5,320,047,644   VI. Net Profit Before Income Tax   9,574,143,588   13,701,126,557 VII. Income Tax Expense   (147,784,007)   9,296,247,234 VIII. Net Profit   9,721,927,595   4,404,879,323 IX. Earnings per Share         1. Basic Earnings per Share   101won   48 won Special Accounts (unit : Won) Accounts 22th period 21th period   Amount   Amount 1. Policy Holder Reserves Transfer - 873,999,538,982 - 1,425,877,207,599 2. Insurance Payout - 667,338,643,223 - 370,902,585,557 Insurance Payout Expense 159,953,802,359 - 122,219,261,340 - Refund Expense 507,384,840,864 - 248,683,324,217 - Dividend Expense - - - - 3. Minimum Guarantee Expense - 5,468,013,949 - 3,504,053,550 Variable Death Insurance 1,234,001,997 - 684,877,975 - Variable Annuity Reserve 4,234,011,952 - 2,819,175,575 - Miscellaneous - - - - 4. Special Account Management Fee - 243,718,314,875 - 100,441,831,069 Operating Expense Proportion of Reserves 4,713,167,321 - 4,032,706,863 - Shareholders Equity - - 72,539,280 - Miscellaneous 239,005,147,554 - 96,336,584,926 - 5. Fee Expense - 2,515,063,435 - 1,517,066,663 6. Taxes & Dues - 192,256,150 - 190,836,090 7. Depreciation Expense - - - - 8. Bad Debt Expenses - 220,567,845 - 363,611,841 9. Property Management Fee - - - - 10. Loss on Disposal of Marketable Securities - 184,527,818,303 - 50,802,732,519 11. Loss on Valuation of Marketable Securities - 289,506,729,107 - 46,663,671,232 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 - 35,147,803 - 31,373,964 17. Interest Expense - 100,105,232 - 42,312,866 18. Loss on Derivative Transactions - 48,334,167 - - 19. Loss on Valuation of Derivatives - - - - 20. Other Expenses - 103,165,026,294 - 44,704,487,855 Provision for Reserves - - -   Total Expense - 2,370,835,559,365 - 2,045,041,770,805 1. Insurance Premium Revenue - 2,047,952,171,564 - 1,774,848,487,976 Individual Insurance Premiums 1,791,630,372,538 - 1,368,897,087,676 - Group Insurance 256,321,799,026 - 405,951,400,300 - 2. Interest Revenue - 90,185,236,300 - 56,373,793,254 Interest on Deposits 14,749,825,358 - 8,383,047,860 - Interest on Marketable Securities 60,992,603,717 - 37,462,909,893 - Interest on Loans 12,356,161,219 - 7,765,594,847 - Other Interest Revenues 2,086,646,006 - 2,762,240,654 - 3. Dividend Revenue - 1 1,286,764,790 - 5,930,152,327 4. Lease Revenue - - -   5. Fee Revenue - - - 20,000,000 6. Gain on Disposal of Marketable Securities - 33,024,872,137 - 107,416,188,120 7. Gain on Valuation of Marketable Securities - 72,501,382,840 - 56,578,269,411 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 - 653,232,970 - 719,488,231 13. Gains on Derivative Transactions - 18,319,167 - - 14. Gain on Valuation of Derivatives - - - - 15. Other Revenues - 115,213,579,597 - 43,155,391,486 Recovery of Loss Amounts 1 7,450,901,982 - - - Miscellaneous 9 7,762,677,615 - 4 3,155,391,486 - Total Revenue - 2,370,835,559,365 - 2,045,041,770,805