Hanwha Life Insurance reported first-half consolidated net profit of 904.5 billion won ($654 million), up 96.0% from a year earlier, as higher insurance and investment income combined with growth at subsidiaries including Hanwha General Insurance and Hanwha Investment & Securities. Non-consolidated net profit rose 183.9% to 510.2 billion won. Insurance income increased 62% to 285.3 billion won and investment income surged 776% to 354.8 billion won. Subsidiaries added further support, with combined net profit of about 500.9 billion won, including 215.3 billion won from Hanwha General Insurance, 55.7 billion won from Hanwha Investment & Securities and 103.0 billion won from overseas units, whose share of subsidiary profit rose to 11%. New-business contractual service margin, or CSM (unearned profit from insurance contracts), climbed 40.5% to 1.3001 trillion won, the largest first-half figure since IFRS 17 (global insurance accounting standard) took effect. Hanwha Life said profitability from new business improved elevenfold, reflecting a profit-focused sales strategy, while second-quarter whole-life profitability rose to 10.5 times on expanded sales of medium- and long-term whole-life policies. The insurer plans to expand those product sales further in the second half and strengthen competitiveness in dementia and long-term care offerings launched this year. Policies in force CSM stood at 8.9285 trillion won at the end of June, while the K-ICS ratio (Korean capital adequacy measure) was estimated at 167%, up 9.5 percentage points from the end of last year.