The company reported net income of $2,517 million and operating income of $2,776 million for 2023, and net income of $804 million and operating income of $1,093 million for Q4.

1. 01

   The company reported net income of $2,517 million and operating income of $2,776 million for 2023, and net income of $804 million and operating income of $1,093 million for Q4.

2. 02

   The company reported a combined ratio of 90.9% for 2023 (2022: 96.0%) and a combined ratio of 93.2% for Q4 (Q4 2022: 87.8%). It said 4.3 points of catastrophe losses were included in Q4.

3. 03

   The company said Reinsurance recorded $397 million in favorable reserve development in Q4, while Insurance strengthened reserves by $392 million. It also recognized a $578 million tax benefit from the change in Bermuda tax law, and said this is a preliminary estimate that is subject to change.

4. 04

   The company reported operating cash flow of $4,553 million for 2023 (2022: $3,695 million), and net investment income of $1,434 million (2022: $830 million).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.