Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 644

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 644
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 Statements

(In millions of won)

December 31, 2023 and 2024

| 28. | Insurance contract liabilities (continued) |

|                                         |                                                                 |                                               |     |                   2023 |          |   |     |                     |        |     |                            |        |     |        |        |     |        |         |     |          |         |   |
|                                         |                                                                 |                                               |     | Present value estimate 
   of future cash flows |          |   |     | non-financial risks |        |     | Contractual service margin |        |     |        |        |     |        |         |     | Total    |         |   |
|                                         |                                                                 |                                               |     |      Fair value method |          |   |     |                Etc. |        |     |                  Sub-total |        |     |        |        |     |        |         |     |          |         |   |
| Reinsurance finance income and expenses |                                                                 | Current profit or loss                        |     |                      W |   (8,686 | ) |     |                     |  1,711 |     |                            |  3,188 |     |        |  2,923 |     |        |   6,111 |     |          |    (864 | ) |
|                                         | Other comprehensive income                                      |                                               |     |                (31,987 |        ) |   |     |               3,694 |        |     |                          — |        |     |      — |        |     |      — |         |     | (28,293  |       ) |   |
|                                         |                                                                 |                                               |     |                        |  (40,673 | ) |     |                     |  5,405 |     |                            |  3,188 |     |        |  2,923 |     |        |   6,111 |     |          | (29,157 | ) |
| Cash flow for the period                |                                                                 | Reinsurance premium paid                      |     |                        |  229,319 |   |     |                     |      — |     |                            |      — |     |        |      — |     |        |       — |     |          | 229,319 |   |
|                                         | Recovery of reinsurance proceeds and other reinsurance profits  |                                               |     |                (43,405 |        ) |