South Korean insurance companies saw their combined earnings drop in the April-December period, as they suffered higher loss rates and a decline in policy sales, data showed Sunday. The combined net income of 55 life and nonlife insurers came to 3.82 trillion won (US$3.57 billion) in the April-December period, down 14.2 percent from 4.45 trillion won the previous year, according to the data compiled by the Financial Supervisory Service (FSS).