Hyundai Marine & Fire Insurance Reports H1 Net Profit of 183.7 Billion KRW, Up 12.1% Year-on-Year

[Asia Economy Reporter Oh Hyung-gil] Hyundai Marine & Fire Insurance announced on the 13th that its net profit for the first half of the year increased by 12.1% compared to the same period last year, reaching 183.7 billion KRW.

Sales amounted to 7.1149 trillion KRW, an 8.0% increase compared to the same period last year, and operating profit also rose by 8.0% to 272.5 billion KRW.

Insurance underwriting loss slightly improved to 373 billion KRW compared to last year, while investment operating profit decreased by 1.4% to 646 billion KRW.

Gross written premiums in automobile insurance and general insurance increased by 15.4% and 15.6% respectively compared to the same period last year, and gross written premiums for protection-type personal insurance also grew by 12.4%.

The loss ratio improved by 0.6 percentage points to 85.1% from 85.7% in the same period last year, and the solvency margin ratio (RBC ratio) also increased by 3.5 percentage points to 217.1%.

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