Meritz Fire & Marine Insurance Reports H1 Net Profit of 213.4 Billion KRW, Up 56.8% YoY

[Asia Economy Reporter Oh Hyung-gil] Meritz Fire & Marine Insurance announced on the 12th that its net profit for the first half of the year increased by 56.8% compared to the same period last year, reaching 213.4 billion KRW.

Sales amounted to 4.4821 trillion KRW, up 16.1% from the same period last year, and operating profit also rose 58.1% to 297.3 billion KRW.

Net profit for the second quarter was 105.7 billion KRW, a 50.4% increase from the same period last year. Sales and operating profit for the quarter were 2.2596 trillion KRW and 145.6 billion KRW, respectively, up 15.7% and 49.1% year-on-year.

The company explained, "Net profit grew through continuous sales growth and improvement in the combined ratio."

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