Seoul: Hanwha Life on Tuesday reported its first-quarter net profit of 381.6 billion won (US$257.1 million), marking an increase of 29 percent from the same period the previous year.

According to Yonhap News Agency, the insurer disclosed in a regulatory filing that it achieved an operating profit of 480.8 billion won for the quarter, compared to 371.4 billion won in the prior year. Additionally, the company's sales surged by 54.7 percent, reaching 9.98 trillion won.