Meritz Fire & Marine Insurance Reports 663.1 Billion KRW Net Profit Last Year, Up 53% YoY
[Asia Economy Reporter Changhwan Lee] Meritz Fire & Marine Insurance announced on the 7th that its net profit for the year (based on separate financial statements) reached 663.1 billion KRW, a 53% increase compared to the previous year.
Revenue increased by 9.6% year-on-year to 10.03 trillion KRW, and operating profit rose by 49.2% to 910.8 billion KRW.
Return on equity (ROE, based on separate financial statements) reached 26.2%, up 9.2 percentage points (p) from the previous year, maintaining double digits for seven consecutive years.
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A Meritz Fire & Marine Insurance official stated, “We achieved favorable results through continuous revenue growth and expense reduction,” adding, “We will continue to strive for growth in the core insurance profit.”
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