Mirae Asset Life Insurance Co Ltd (085620) - Net Assets
Based on the latest financial reports, Mirae Asset Life Insurance Co Ltd (085620) has net assets worth ₩2.49 Trillion KRW (≈ $1.69 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩33.22 Trillion ≈ $22.51 Billion USD) and total liabilities (₩30.73 Trillion ≈ $20.82 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Mirae Asset Life Insurance Co Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩2.49 Trillion |
| % of Total Assets | 7.5% |
| Annual Growth Rate | 5.52% |
| 5-Year Change | 12.19% |
| 10-Year Change | 38.03% |
| Growth Volatility | 37.64 |
Mirae Asset Life Insurance Co Ltd - Net Assets Trend (2014–2024)
This chart illustrates how Mirae Asset Life Insurance Co Ltd's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Mirae Asset Life Insurance Co Ltd to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Mirae Asset Life Insurance Co Ltd (2014–2024)
The table below shows the annual net assets of Mirae Asset Life Insurance Co Ltd from 2014 to 2024. For live valuation and market cap data, see Mirae Asset Life Insurance Co Ltd market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | ₩2.56 Trillion ≈ $1.74 Billion |
-14.98% |
| 2023-12-31 | ₩3.02 Trillion ≈ $2.04 Billion |
-26.22% |
| 2022-12-31 | ₩4.09 Trillion ≈ $2.77 Billion |
+114.86% |
| 2021-12-31 | ₩1.90 Trillion ≈ $1.29 Billion |
-16.76% |
| 2020-12-31 | ₩2.29 Trillion ≈ $1.55 Billion |
-2.20% |
| 2019-12-31 | ₩2.34 Trillion ≈ $1.58 Billion |
+13.15% |
| 2018-12-31 | ₩2.06 Trillion ≈ $1.40 Billion |
+0.65% |
| 2017-12-31 | ₩2.05 Trillion ≈ $1.39 Billion |
+9.12% |
| 2016-12-31 | ₩1.88 Trillion ≈ $1.27 Billion |
+1.23% |
| 2015-12-31 | ₩1.86 Trillion ≈ $1.26 Billion |
+23.98% |
| 2014-12-31 | ₩1.50 Trillion ≈ $1.02 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Mirae Asset Life Insurance Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 773.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩1.94 Trillion | 75.80% |
| Other Components | ₩620.52 Billion | 24.20% |
| Total Equity | ₩2.56 Trillion | 100.00% |
Mirae Asset Life Insurance Co Ltd Competitors by Market Cap
The table below lists competitors of Mirae Asset Life Insurance Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
TIME Dotcom Bhd
KLSE:5031
|
$2.83 Billion |
|
NH Hoteles
MC:NHH
|
$2.83 Billion |
|
Inesa Intelligent Tech Inc A
SHG:600602
|
$2.83 Billion |
|
Maple Leaf Foods Inc.
TO:MFI
|
$2.83 Billion |
|
Sinopharm Group Co. Ltd
F:X2S
|
$2.83 Billion |
|
PNB Housing Finance Limited
NSE:PNBHOUSING
|
$2.83 Billion |
|
Veracyte Inc
NASDAQ:VCYT
|
$2.83 Billion |
|
Air China Limited
F:AD2
|
$2.83 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mirae Asset Life Insurance Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,015,511,143,600 to 2,563,654,662,740, a change of -451,856,480,860 (-15.0%).
- Net income of 136,114,870,310 contributed positively to equity growth.
- Other factors decreased equity by 587,971,351,170.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩136.11 Billion | +5.31% |
| Other Changes | ₩-587.97 Billion | -22.93% |
| Total Change | ₩- | -14.98% |
Book Value vs Market Value Analysis
This analysis compares Mirae Asset Life Insurance Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.63x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.24x to 1.63x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ₩14299.26 | ₩32000.00 | x |
| 2018-12-31 | ₩14912.14 | ₩32000.00 | x |
| 2019-12-31 | ₩16872.88 | ₩32000.00 | x |
| 2020-12-31 | ₩17119.80 | ₩32000.00 | x |
| 2021-12-31 | ₩14578.51 | ₩32000.00 | x |
| 2022-12-31 | ₩31322.40 | ₩32000.00 | x |
| 2023-12-31 | ₩23110.91 | ₩32000.00 | x |
| 2024-12-31 | ₩19647.87 | ₩32000.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mirae Asset Life Insurance Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.31%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.74%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 12.67x
- Recent ROE (5.31%) is below the historical average (5.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 8.08% | 3.44% | 0.14x | 16.48x | ₩-28.78 Billion |
| 2015 | 6.98% | 3.18% | 0.14x | 15.54x | ₩-52.82 Billion |
| 2016 | 4.15% | 2.23% | 0.12x | 15.23x | ₩-110.04 Billion |
| 2017 | 10.78% | 6.01% | 0.10x | 17.31x | ₩15.95 Billion |
| 2018 | 5.16% | 3.21% | 0.10x | 16.78x | ₩-99.89 Billion |
| 2019 | 4.69% | 3.51% | 0.08x | 16.27x | ₩-124.15 Billion |
| 2020 | 3.49% | 2.91% | 0.07x | 17.78x | ₩-148.74 Billion |
| 2021 | 4.16% | 2.79% | 0.07x | 22.08x | ₩-111.13 Billion |
| 2022 | 3.05% | 4.96% | 0.07x | 8.57x | ₩-283.88 Billion |
| 2023 | 3.36% | 2.43% | 0.13x | 10.97x | ₩-200.15 Billion |
| 2024 | 5.31% | 3.74% | 0.11x | 12.67x | ₩-120.25 Billion |
Industry Comparison
This section compares Mirae Asset Life Insurance Co Ltd's net assets metrics with peer companies in the Insurance - Life industry.
Industry Context
- Industry: Insurance - Life
- Average net assets among peers: $7,860,589,188,000
- Average return on equity (ROE) among peers: 9.69%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mirae Asset Life Insurance Co Ltd (085620) | ₩2.49 Trillion | 8.08% | 12.33x | $2.83 Billion |
| Samsung Life (032830) | $15.44 Trillion | 12.46% | 8.49x | $57.08 Billion |
| Tongyang Life (082640) | $1.81 Trillion | 9.11% | 10.31x | $842.92 Million |
| Hanwha Life (088350) | $6.33 Trillion | 7.50% | 9.83x | $2.77 Billion |
About Mirae Asset Life Insurance Co Ltd
MIRAE ASSET Life Insurance Co., Ltd. provides personal insurance products and undertakes related reinsurance contracts in South Korea. The company offers pension/savings, whole life/term, cancer/health, dementia/nursing care, whole life/term, and retirement pension insurance products, as well as insurance loans. MIRAE ASSET Life Insurance Co., Ltd. was founded in 1988 and is headquartered in Seou… Read more