Life insurers' net profit rises 0.7% in April-June period

Despite an economic slump, life insurance companies operating in the country saw their net profit rise in the second quarter of this year from the same period last year, the financial watchdog said last week.

The combined net profit of 24 life insurers reached 849.7 billion won ($767.9 million) in the April-June period, up 0.7 percent from a year earlier, the Financial Supervisory Service said.

By Ayaka Erin Tobari

Park Sae-jin swatchsjp@ajunews.com