(그래픽·데이터 뉴스) 올해 3분기, 손해보험 업계(이하 손보업계)의 보험계약마진이 생보업계보다 7조원(이하 원 생략)에서 9조 정도 높은 것으로 집계됐다.
그래프 1. 보험업계 CSM 추이
데이터: 금융감독원 금융통계정보시스템, 각사 공시자료
금융감독원(FSS)의 금융통계정보시스템에 따르면, 2023년 3분기(9월말) 기준 손보업계의 보험계약마진(CSM, Contractual Service Margin, 이를 계약서비스마진이라고도 함)은 66조2057억이다(표 1 참고).
그리고 CSM 기준, 상위 9개社의 데이터를 자체 공시 자료로 대체하면 68조7671억이 된다.
두 값의 차이가 왜 발생하는지 모르겠지만, 집계된 손보업계의 CSM은 66조에서 69조 사이다.
이는 같은 기간 생보업계의 59조948억보다 7조에서 9조 정도 높은 수치다.
생보가 자산 규모는 더 크고 당기순이익은 더 낮아 CSM에서 손보에게 밀리는 형국이다(표 2 참고).
참고로 이번 집계치는 CSM을 공시한 회사들의 데이터만 포함한 것이다.
표 1. 회사별 CSM(단위: 억)
| 회사 | 2023. 3. | 2023. 6. | 2023. 9. | 비고 | |
| FSS | 자체 공시* | ||||
| 삼성화재 | 123,501 | 126,549 | 132,593 | 132,593 | |
| DB손해 | 109,564 | 111,989 | 115,694 | 125,833 | 123,194** |
| 메리츠화재 | 99,548 | 100,162 | 106,257 | 106,786 | |
| 현대해상 | 84,533 | 85,984 | 89,037 | 89,037 | 83,919** |
| KB손해 | 78,629 | 80,628 | 88,292 | 91,843 | |
| 한화손해 | 37,148 | 38,036 | 38,442 | 38,442 | |
| 흥국화재 | 21,567 | 21,216 | 30,055 | 30,055 | |
| 농협손해 | 21,307 | 20,834 | 20,715 | 20,715 | |
| 롯데손해 | 17,428 | 18,072 | 10,691 | 22,086 | |
| Korean Re | 11,703 | 10,465 | 8,801 | 8,801 | 자체 공시 CSM은 FSS 데이터와 동일하다고 가정 |
| RGA Re | 814 | 5,077 | 6,495 | 6,495 | |
| SCOR Re | 4,836 | 5,349 | 5,159 | 5,159 | |
| MG손해 | 5,982 | 6,011 | 3,328 | 3,328 | |
| 하나손해 | 1,245 | 1,376 | 1,534 | 1,534 | |
| AIG | 2,661 | 2,807 | 1,500 | 1,500 | |
| AXA | 1,216 | 1,247 | 1,294 | 1,294 | |
| Pacific Life Re | 1,031 | 956 | 1,018 | 1,018 | |
| Swiss Re | 1,933 | 682 | 509 | 509 | |
| Hannover Re | 212 | 332 | 325 | 325 | |
| Gen Re | 234 | 236 | 227 | 227 | |
| Munich Re | 39 | 7 | 33 | 33 | |
| ACE | 54 | 44 | 33 | 33 | |
| FATIC | 19 | 20 | 25 | 25 | |
| 손보 합계(A) | 625,201 | 638,078 | 662,057 | 687,671 | – |
| 생보 합계(B) | 556,089 | 580,131 | 590,948 | 590,948 | – |
| A-B | 69,112 | 57,947 | 71,109 | 96,723 | – |
자료: 금융감독원(FSS) 금융통계정보시스템, 각사 경영공시
주: * 각사 경영공시 자료 기준. 참고로 DB손해와 현대해상은 수정소급법 적용치
** 전진법 적용치
*** 생보 CSM은 링크된 기사 참고
표 2. 손보와 생보의 자산 및 당기순이 현황(단위: 억)
| 구분 | 자산 | 당기순이익 | ||||
| 2023. 3. | 2023. 6. | 2023. 9. | 2023. 3. | 2023. 6. | 2023. 9. | |
| 손보(A) | 3,232,617 | 3,230,728 | 3,220,223 | 25,733 | 52,864 | 71,433 |
| 생보(B) | 8,539,761 | 8,459,113 | 8,313,706 | 27,264 | 38,159 | 43,993 |
| A-B | -5,307,144 | -5,228,385 | -5,093,482 | -1,531 | 14,705 | 27,440 |
자료: 생명보험협회, 손해보험협회
주: 자산과 당기순이익은 누적치 기준
English version>>
Graphics and Data News: Non-life insurance industry’s CSM of 66 to 69 trillion won in the third quarter of 2023, approximately 7 to 9 trillion won higher than that of the life insurance industry.
(Graphics and Data News) In the third quarter of this year, the Contractual Service Margin (CSM) of the non-life insurance industry was calculated to be 7 to 9 trillion won higher than that of the life insurance industry.
Graph 1. Insurance industry CSM trends
According to the financial statistics information system of the Financial Supervisory Service (FSS), the CSM in the non-life insurance industry as of the third quarter of 2023 (end of September) is KRW 66.2057 trillion (see table 1).
And if the data of the top nine companies based on CSM is replaced with the data they disclosed, it will be 68.7671 trillion won.
I don’t know why the difference between the two values occurs, but the CSM of the non-life insurance industry is between 66 trillion and 69 trillion.
This figure is approximately 7 to 9 trillion higher than the 59.0948 trillion won of the life insurance industry during the same period.
Life insurance is falling behind non-life insurance in CSM because of its larger assets and lower net income (see Table 2).
For reference, this data only includes data from companies that disclosed CSM.
Table 1. CSM by company (unit: KRW 100 million)
| Non-life Insurer | 2023. 3. | 2023. 6. | 2023. 9. | Remark | |
| FSS | each Insurer* | ||||
| Samsung | 123,501 | 126,549 | 132,593 | 132,593 | |
| DB | 109,564 | 111,989 | 115,694 | 125,833 | 123,194** |
| Meritz | 99,548 | 100,162 | 106,257 | 106,786 | |
| Hyundai | 84,533 | 85,984 | 89,037 | 89,037 | 83,919** |
| KB | 78,629 | 80,628 | 88,292 | 91,843 | |
| Hanwha | 37,148 | 38,036 | 38,442 | 38,442 | |
| Heungkuk | 21,567 | 21,216 | 30,055 | 30,055 | |
| NH | 21,307 | 20,834 | 20,715 | 20,715 | |
| Lotte | 17,428 | 18,072 | 10,691 | 22,086 | |
| Korean Re | 11,703 | 10,465 | 8,801 | 8,801 | Assuming that the CSM disclosed by each company is the same as the FSS data |
| RGA Re | 814 | 5,077 | 6,495 | 6,495 | |
| SCOR Re | 4,836 | 5,349 | 5,159 | 5,159 | |
| MG | 5,982 | 6,011 | 3,328 | 3,328 | |
| Hana | 1,245 | 1,376 | 1,534 | 1,534 | |
| AIG | 2,661 | 2,807 | 1,500 | 1,500 | |
| AXA | 1,216 | 1,247 | 1,294 | 1,294 | |
| Pacific Life Re | 1,031 | 956 | 1,018 | 1,018 | |
| Swiss Re | 1,933 | 682 | 509 | 509 | |
| Hannover Re | 212 | 332 | 325 | 325 | |
| Gen Re | 234 | 236 | 227 | 227 | |
| Munich Re | 39 | 7 | 33 | 33 | |
| ACE | 54 | 44 | 33 | 33 | |
| FATIC | 19 | 20 | 25 | 25 | |
| Non-life Total(A) | 625,201 | 638,078 | 662,057 | 687,671 | – |
| Life Total(B) | 556,089 | 580,131 | 590,948 | 590,948 | – |
| A-B | 69,112 | 57,947 | 71,109 | 96,723 | – |
Source: FSS Financial Statistics Information System, Business report of each insurer
Note: * Business report of each insurer. For reference, DB and Hyundai are subject to the modified retrospective method
** Prospective Method application value
*** See linked page for the CSM of Life Insurance
Table 2. Asset and net profit status of non-life insurance and life insurance (unit: KRW 100 million)
| Cls. | Assets | Net Income (Profit) | ||||
| 2023. 3. | 2023. 6. | 2023. 9. | 2023. 3. | 2023. 6. | 2023. 9. | |
| Non-life(A) | 3,232,617 | 3,230,728 | 3,220,223 | 25,733 | 52,864 | 71,433 |
| Life(B) | 8,539,761 | 8,459,113 | 8,313,706 | 27,264 | 38,159 | 43,993 |
| A-B | -5,307,144 | -5,228,385 | -5,093,482 | -1,531 | 14,705 | 27,440 |
Source: Korea Life Insurance Association, Korea General Insurance Association
Note: Assets and net income based on accumulated values
