Riding the stock-market rally, Samsung Life Insurance surges 8%; Mirae Asset Life Insurance also gains in the 6% range [STOCKS NOW]

[Financial News] Insurance stocks are showing strength in early trading.
Buying interest appears to be flowing into life insurers, with Samsung Life Insurance surging more than 8% and Mirae Asset Life Insurance Co., Ltd. gaining in the 6% range. Some non-life insurers, including Samsung Fire & Marine Insurance, also rose, spreading strength across the insurance sector.
According to the Korea Exchange (KRX), as of 9:31 a.m. on the 28th, Samsung Life Insurance was trading at 276,000 won, up 21,000 won (8.24%) from the previous trading day. Mirae Asset Life Insurance Co., Ltd. rose 1,130 won (6.52%) to 18,450 won. Samsung Fire & Marine Insurance also gained 27,000 won (4.52%) to trade at 624,000 won, showing strength.
Other insurance stocks also generally moved higher. Hanwha Life Insurance rose 2.47% to 4,150 won, Lotte Insurance gained 1.91% to 2,405 won, and Heungkuk Fire & Marine Insurance rose 1.12% to 3,170 won. Korean Re gained 0.51%, while DB Insurance Co., Ltd. rose 0.34%. By contrast, PGMIC fell 0.60%, and Heungkuk Fire & Marine Insurance preferred shares declined 1.85%, with performance varying by stock.
The sector index was also strong. The insurance sector index stood at 44,555.34, up 5.17% from the previous trading day, the largest gain among KOSPI sector indices.
With the KOSPI up 3.38% at the same time, insurance stocks were posting gains that outpaced the market average.
Meanwhile, the securities sector also rose 4.81%, highlighting broad strength across financial stocks.
[email protected] Kang Jung-mo Reporter