서울보증보험 사업보고서 (2025.12)
2. 연결재무제표

## 2-1. 연결 재무상태표

연결 재무상태표
제 59 기 2025.12.31 현재
제 58 기 2024.12.31 현재
제 57 기 2023.12.31 현재
(단위 : 원)

제 59 기	제 58 기	제 57 기

자산

I.현금및예치금	177,579,719,090	239,658,217,924	212,163,507,379

II.당기손익-공정가치측정금융자산	1,582,179,901,494	1,406,073,520,618	1,370,255,732,639

III.기타포괄손익-공정가치측정금융자산	6,197,338,712,758	6,243,264,962,873	6,197,948,879,665

IV.상각후원가측정유가증권	439,892,931,154	439,919,143,374	441,928,209,554

V.상각후원가측정대출채권	3,016,219,366	2,685,577,475	7,737,558,835

VI.상각후원가측정기타수취채권	362,573,741,328	330,166,042,891	279,866,713,839

VII.관계기업투자주식	11,758,407,462	10,128,595,138	8,466,436,112

VIII.위험회피목적파생상품자산	3,480,589,767	371,605,611	8,912,713,437

IX.보험계약자산	0	5,642,359	1,827,691,405

X.재보험계약자산	255,108,594,876	305,825,042,558	284,187,025,698

XI.투자부동산	14,082,474,867	14,329,396,900	14,628,658,348

XII.유형자산	141,323,735,979	138,378,474,347	136,849,989,384

XIII.무형자산	155,092,270,542	135,221,021,843	93,351,788,206

XIV.사용권자산	61,741,291,011	63,805,734,928	66,585,732,097

XV.당기법인세자산	103,114,400	348,195,179	0

XVI.순확정급여자산	0	0	1,144,169,802

XVII.이연법인세자산	1,626,016,211	1,595,111,077	1,764,452,924

XVIII.기타자산	1,834,676,722	1,821,779,981	2,118,975,035

자산총계	9,408,732,397,027	9,333,598,065,076	9,129,738,234,359

자본과 부채

부채

I.보험계약부채	3,228,356,793,194	3,262,977,164,442	3,079,359,996,761

II.재보험계약부채	0	0	687,254,960

III.차입부채	38,426,071,030	39,650,197,438	40,858,393,054

IV.기타금융부채	91,663,432,332	77,284,151,060	73,388,933,579

V.위험회피목적파생상품부채	78,515,341,845	75,677,142,667	17,189,461,216

VI.리스부채	61,266,594,836	62,771,310,374	64,123,611,360

VII.충당부채	8,784,915,473	32,170,330,821	31,008,752,675

VIII.순확정급여부채	152,106,388	7,984,140,225	0

IX.당기법인세부채	50,825,432,799	3,862,435,982	53,207,429,195

X.이연법인세부채	509,462,211,512	498,077,955,824	471,287,053,087

XI.기타부채	146,106,513,968	97,677,625,417	98,239,813,987

부채총계	4,213,559,413,377	4,158,132,454,250	3,929,350,699,874

자본

I.지배기업소유주지분	5,189,914,819,617	5,170,177,200,110	5,195,141,646,580

1.자본금	174,553,995,000	174,553,995,000	174,553,995,000

2.기타포괄손익누계액	(29,231,937,127)	22,307,463,661	52,094,178,520

3.이익잉여금	5,044,592,761,744	4,973,315,741,449	4,968,493,473,060

(대손준비금 기적립액)	48,155,282	1,035,704,482	24,844,629

(대손준비금 적립(환입)예정액)	687,413,857	(987,549,200)	1,010,859,853

(비상위험준비금 기적립액)	2,488,079,095,683	2,401,039,526,301	2,313,228,930,724

(비상위험준비금 적립(환입)예정액)	(361,053,854,566)	87,039,569,382	87,810,595,577

II.비지배지분	5,258,164,033	5,288,410,716	5,245,887,905

자본총계	5,195,172,983,650	5,175,465,610,826	5,200,387,534,485

부채및자본총계	9,408,732,397,027	9,333,598,065,076	9,129,738,234,359

## 2-2. 연결 포괄손익계산서

연결 포괄손익계산서
제 59 기 2025.01.01 부터 2025.12.31 까지
제 58 기 2024.01.01 부터 2024.12.31 까지
제 57 기 2023.01.01 부터 2023.12.31 까지
(단위 : 원)

제 59 기	제 58 기	제 57 기

I.보험손익	252,327,556,439	148,257,279,548	383,948,856,749

1.보험영업수익	2,313,244,012,790	2,289,749,565,005	2,238,223,513,811

(1)보험수익	2,175,490,748,114	2,088,344,821,127	2,085,830,509,121

(2)재보험수익	137,753,264,676	201,404,743,878	152,393,004,690

2.보험영업비용	2,060,916,456,351	2,141,492,285,457	1,854,274,657,062

(1)보험서비스비용	1,854,649,393,161	1,912,105,857,231	1,607,826,505,622

(2)재보험서비스비용	159,827,124,485	159,843,884,935	168,917,597,358

(3)기타사업비용	46,439,938,705	69,542,543,291	77,530,554,082

II.투자손익	123,374,187,485	131,405,507,311	140,151,443,657

1.투자영업수익	445,475,884,681	461,580,178,965	372,015,551,636

(1)보험금융수익	46,499,471,102	41,986,699,278	24,942,883,431

(2)재보험금융수익	14,717,591,464	15,303,875,110	10,607,651,934

(3)이자수익	186,333,367,004	176,032,368,134	161,168,751,710

(4)배당수익	6,091,203,357	3,015,364,631	1,279,353,006

(5)당기손익-공정가치측정금융상품관련이익	48,886,214,549	70,848,727,576	66,201,952,346

(6)기타포괄손익-공정가치측정금융상품관련이익	18,657,421,743	7,353,259,882	1,284,431,397

(7)상각후원가측정금융상품관련이익	784,547,307	0	757,132,803

(8)신용손실충당금환입액	268,291,898	892,600,077	166,932,795

(9)파생상품관련이익	23,938,662,816	4,695,438,292	12,626,131,407

(10)외환거래이익	9,407,612,834	48,219,895,784	11,255,627,147

(11)기타수익	89,891,500,607	93,231,950,201	81,724,703,660

2.투자영업비용	322,101,697,196	330,174,671,654	231,864,107,979

(1)보험금융비용	147,595,540,878	171,962,833,519	119,740,084,420

(2)재보험금융비용	7,582,225,839	5,327,540,994	2,954,323,267

(3)이자비용	5,860,480,215	5,376,393,966	5,587,321,528

(4)당기손익-공정가치측정금융상품관련손실	50,603,310,332	40,040,048,163	23,208,574,081

(5)기타포괄손익-공정가치측정금융상품관련손실	2,200,551,379	2,218,075,256	795,359,791

(6)신용손실충당금전입액	1,502,336,143	5,500,598,716	1,192,910,868

(7)파생상품관련손실	23,037,358,478	50,019,266,498	27,413,721,457

(8)재산관리비	8,685,534,061	8,064,485,441	6,782,536,460

(9)부동산관리비	1,524,274,405	1,312,501,919	1,300,462,822

(10)외환거래손실	14,801,868,978	678,222,980	2,263,360,822

(11)기타비용	58,708,216,488	39,674,704,202	40,625,452,463

III.영업이익	375,701,743,924	279,662,786,859	524,100,300,406

IV.영업외수익	10,256,179,943	14,865,973,765	12,781,835,150

V.영업외비용	11,575,258,228	11,571,362,348	15,831,311,669

VI.법인세비용차감전순이익	374,382,665,639	282,957,398,276	521,050,823,887

VII.법인세비용	105,971,704,925	69,683,377,972	103,117,906,843

VIII.당기순이익	268,410,960,714	213,274,020,304	417,932,917,044

(대손준비금 반영후 조정이익)	267,723,546,857	214,261,569,504	416,922,057,191

(비상위험준비금 반영후 조정이익)	629,464,815,280	126,234,450,922	330,122,321,467

IX.기타포괄손익	(48,612,509,620)	(29,837,117,129)	236,345,125,160

1.후속적으로 당기손익으로 재분류되지 않는 포괄손익	3,580,722,080	(97,132,124,910)	36,909,404,444

(1)기타포괄손익-공정가치측정지분상품평가손익	9,395,456,142	(85,380,008,337)	50,861,111,879

(2)확정급여채무 재측정요소	(5,815,025,064)	(11,752,170,893)	(13,921,970,929)

(3)지분법자본변동	291,002	54,320	(29,736,506)

2.후속적으로 당기손익으로 재분류되는 포괄손익	(52,193,231,700)	67,295,007,781	199,435,720,716

(1)보험계약 관련 금융손익	(4,866,293,203)	2,176,280,112	4,155,162,311

(2)재보험계약 관련 금융손익	790,447,912	(862,311,273)	(1,249,603,722)

(3)기타포괄손익-공정가치측정채무상품평가손익	(36,079,417,054)	62,966,354,425	196,713,012,729

(4)기타포괄손익-공정가치측정유가증권 신용손실	176,362,015	(27,155,555)	14,180,740

(5)현금흐름위험회피파생상품평가손익	(9,541,373,104)	(793,627,794)	248,641,769

(6)해외사업장환산손익	(2,672,958,266)	3,835,467,866	(445,673,111)

X.총포괄손익	219,798,451,094	183,436,903,175	654,278,042,204

1.연결당기순이익의 귀속

(1)지배주주지분	268,373,453,742	213,100,095,223	417,659,099,849

(2)비지배주주지분	37,506,972	173,925,081	273,817,195

2.연결총포괄손익의 귀속

(1)지배주주지분	219,776,497,777	183,313,380,364	654,030,318,174

(2)비지배주주지분	21,953,317	123,522,811	247,724,030

XI.주당이익

1.기본주당이익 (단위 : 원)	3,844.0	3,052.0	5,982.0

2.희석주당이익 (단위 : 원)	3,844.0	3,052.0	5,982.0

## 2-3. 연결 자본변동표

연결 자본변동표
제 59 기 2025.01.01 부터 2025.12.31 까지
제 58 기 2024.01.01 부터 2024.12.31 까지
제 57 기 2023.01.01 부터 2023.12.31 까지
(단위 : 원)

자본

지배기업의 소유주에게 귀속되는 지분	비지배지분	자본 합계

자본금	기타포괄손익누적액	이익잉여금	지배기업의 소유주에게 귀속되는 지분 합계

2023.01.01 (I.기초자본)	174,553,995,000	(184,208,792,557)	4,833,403,954,667	4,823,749,157,110	5,106,313,875	4,828,855,470,985

자본의 변동

총포괄손익:

1.당기순이익	0	0	417,659,099,849	417,659,099,849	273,817,195	417,932,917,044

2.기타포괄손익

(1)보험계약 관련 금융손익	0	4,155,162,311	0	4,155,162,311	0	4,155,162,311

(2)재보험계약 관련 금융손익	0	(1,249,603,722)	0	(1,249,603,722)	0	(1,249,603,722)

(3)기타포괄손익-공정가치측정금융상품 관련 손익	0	247,520,058,100	68,247,248	247,588,305,348	0	247,588,305,348

(4)해외사업환산손익	0	(445,673,111)	0	(445,673,111)	0	(445,673,111)

(5)현금흐름위험회피파생상품평가손익	0	248,641,769	0	248,641,769	0	248,641,769

(6)순확정급여부채 재측정요소	0	(13,895,877,764)	0	(13,895,877,764)	(26,093,165)	(13,921,970,929)

(7)지분법자본변동	0	(29,736,506)	0	(29,736,506)	0	(29,736,506)

총기타포괄손익	0	236,302,971,077	68,247,248	236,371,218,325	(26,093,165)	236,345,125,160

총포괄손익	0	236,302,971,077	417,727,347,097	654,030,318,174	247,724,030	654,278,042,204

소유주와의 자본거래 등:

1.연차배당	0	0	(282,637,828,704)	(282,637,828,704)	(108,150,000)	(282,745,978,704)

소유주와의 거래 합계	0	0	(282,637,828,704)	(282,637,828,704)	(108,150,000)	(282,745,978,704)

자본 증가(감소) 합계	0	236,302,971,077	135,089,518,393	371,392,489,470	139,574,030	371,532,063,500

2023.12.31 (II.기말자본)	174,553,995,000	52,094,178,520	4,968,493,473,060	5,195,141,646,580	5,245,887,905	5,200,387,534,485

2024.01.01 (III.기초자본)	174,553,995,000	52,094,178,520	4,968,493,473,060	5,195,141,646,580	5,245,887,905	5,200,387,534,485

자본의 변동

총포괄손익:

1.당기순이익	0	0	213,100,095,223	213,100,095,223	173,925,081	213,274,020,304

2.기타포괄손익

(1)보험계약 관련 금융손익	0	2,176,280,112	0	2,176,280,112	0	2,176,280,112

(2)재보험계약 관련 금융손익	0	(862,311,273)	0	(862,311,273)	0	(862,311,273)

(3)기타포괄손익-공정가치측정금융상품 관련 손익	0	(22,440,809,467)	0	(22,440,809,467)	0	(22,440,809,467)

(4)해외사업환산손익	0	3,835,467,866	0	3,835,467,866	0	3,835,467,866

(5)현금흐름위험회피파생상품평가손익	0	(793,627,794)	0	(793,627,794)	0	(793,627,794)

(6)순확정급여부채 재측정요소	0	(11,701,768,623)	0	(11,701,768,623)	(50,402,270)	(11,752,170,893)

(7)지분법자본변동	0	54,320	0	54,320	0	54,320

총기타포괄손익	0	(29,786,714,859)	0	(29,786,714,859)	(50,402,270)	(29,837,117,129)

총포괄손익	0	(29,786,714,859)	213,100,095,223	183,313,380,364	123,522,811	183,436,903,175

소유주와의 자본거래 등:

1.연차배당	0	0	(208,277,826,834)	(208,277,826,834)	(81,000,000)	(208,358,826,834)

소유주와의 거래 합계	0	0	(208,277,826,834)	(208,277,826,834)	(81,000,000)	(208,358,826,834)

자본 증가(감소) 합계	0	(29,786,714,859)	4,822,268,389	(24,964,446,470)	42,522,811	(24,921,923,659)

2024.12.31 (IV.기말자본)	174,553,995,000	22,307,463,661	4,973,315,741,449	5,170,177,200,110	5,288,410,716	5,175,465,610,826

2025.01.01 (V.기초자본)	174,553,995,000	22,307,463,661	4,973,315,741,449	5,170,177,200,110	5,288,410,716	5,175,465,610,826

자본의 변동

총포괄손익:

1.당기순이익	0	0	268,373,453,742	268,373,453,742	37,506,972	268,410,960,714

2.기타포괄손익

(1)보험계약 관련 금융손익	0	(4,866,293,203)	0	(4,866,293,203)	0	(4,866,293,203)

(2)재보험계약 관련 금융손익	0	790,447,912	0	790,447,912	0	790,447,912

(3)기타포괄손익-공정가치측정금융상품 관련 손익	0	(29,450,043,720)	2,942,444,823	(26,507,598,897)	0	(26,507,598,897)

(4)해외사업환산손익	0	(2,672,958,266)	0	(2,672,958,266)	0	(2,672,958,266)

(5)현금흐름위험회피파생상품평가손익	0	(9,541,373,104)	0	(9,541,373,104)	0	(9,541,373,104)

(6)순확정급여부채 재측정요소	0	(5,799,471,409)	0	(5,799,471,409)	(15,553,655)	(5,815,025,064)

(7)지분법자본변동	0	291,002	0	291,002	0	291,002

총기타포괄손익	0	(51,539,400,788)	2,942,444,823	(48,596,955,965)	(15,553,655)	(48,612,509,620)

총포괄손익	0	(51,539,400,788)	271,315,898,565	219,776,497,777	21,953,317	219,798,451,094

소유주와의 자본거래 등:

1.연차배당	0	0	(200,038,878,270)	(200,038,878,270)	(52,200,000)	(200,091,078,270)

소유주와의 거래 합계	0	0	(200,038,878,270)	(200,038,878,270)	(52,200,000)	(200,091,078,270)

자본 증가(감소) 합계	0	(51,539,400,788)	71,277,020,295	19,737,619,507	(30,246,683)	19,707,372,824

2025.12.31 (VI.기말자본)	174,553,995,000	(29,231,937,127)	5,044,592,761,744	5,189,914,819,617	5,258,164,033	5,195,172,983,650

## 2-4. 연결 현금흐름표

연결 현금흐름표
제 59 기 2025.01.01 부터 2025.12.31 까지
제 58 기 2024.01.01 부터 2024.12.31 까지
제 57 기 2023.01.01 부터 2023.12.31 까지
(단위 : 원)

제 59 기	제 58 기	제 57 기

영업활동현금흐름

I.영업활동으로 인한 현금흐름	387,231,449,456	314,976,598,861	540,874,597,756

1.영업활동에서 창출된 현금흐름	244,735,384,059	225,980,410,230	485,650,396,292

(1)당기순이익	268,410,960,714	213,274,020,304	417,932,917,044

(2)손익조정항목	(1,755,050,475,501)	(1,581,168,593,846)	(406,812,425,518)

(3)자산부채증감	1,731,374,898,846	1,593,874,983,772	474,529,904,766

2.이자수취	171,208,735,342	170,369,828,166	150,186,025,133

3.이자지급	(2,068,936,871)	(2,164,158,129)	(2,230,260,387)

4.배당금의 수취	6,181,203,357	3,105,364,631	1,369,353,006

5.법인세의 납부	(32,824,936,431)	(82,314,846,037)	(94,100,916,288)

투자활동현금흐름

II.투자활동으로 인한 현금흐름	(209,467,414,540)	(95,734,380,138)	(199,191,699,967)

1.유형자산 취득	(14,075,143,706)	(10,072,577,266)	(11,951,959,482)

2.유형자산 처분	153,979,000	57,146,288	1,537,075,937

3.투자부동산의 취득	(54,104,449)	0	0

4.무형자산의 취득	(60,160,430,378)	(55,904,499,595)	(56,999,233,030)

5.무형자산의 처분	1,396,329,000	0	0

6.당기손익-공정가치측정금융자산의 취득	(567,528,733,658)	(433,942,403,338)	(295,081,276,437)

7.당기손익-공정가치측정금융자산의 처분	417,248,815,213	406,220,521,515	211,106,377,807

8.기타포괄손익-공정가치측정금융자산의 취득	(1,922,557,785,060)	(1,341,512,882,439)	(903,246,098,123)

9.기타포괄손익-공정가치측정금융자산의 처분	1,982,691,194,542	1,372,784,458,505	825,563,371,828

10.상각후원가측정유가증권의 처분	38,175,000	38,350,000	48,447,980,000

11.위험회피활동으로 인한 현금유출	(2,576,432,422,186)	(1,823,887,981,915)	(2,191,857,092,194)

12.위험회피활동으로 인한 현금유입	2,529,014,196,072	1,790,941,026,777	2,177,122,639,413

13.관계기업투자주식의 취득	0	0	(2,750,000,000)

14.임차보증금의 증가	(5,177,688,130)	(6,056,160,221)	(4,686,001,053)

15.임차보증금의 감소	5,976,204,200	5,600,621,551	3,602,515,367

재무활동현금흐름

III.재무활동으로 인한 현금흐름	(220,172,089,841)	(228,279,396,935)	(301,563,677,400)

1.차입금의 상환	(1,939,495,483)	(1,939,495,483)	(1,939,495,483)

2.배당금의 지급	(200,091,078,270)	(208,358,826,834)	(282,745,978,704)

3.리스부채의 상환	(18,141,516,088)	(17,981,074,618)	(16,878,203,213)

IV.외화표시 현금및현금성자산에 대한 환율변동 효과	(2,262,403,061)	8,926,363,741	(375,747,284)

V.현금및현금성자산의 증가(감소)	(44,670,457,986)	(110,814,471)	39,743,473,105

VI.기초의 현금및현금성자산	173,384,495,828	173,495,310,299	133,751,837,194

VII.기말의 현금및현금성자산	128,714,037,842	173,384,495,828	173,495,310,299