Meritz Fire & Marine Insurance 3Q Cumulative Net Profit 1.3353 Trillion KRW ... 26.7% YoY Increase

Meritz Fire & Marine Insurance announced on the 13th that its cumulative net profit for the third quarter reached 1.3353 trillion KRW. This represents a 26.7% increase compared to the previous year.

The net profit for the third quarter was 496.3 billion KRW, marking a 29.2% increase year-on-year. A Meritz Fire & Marine Insurance official explained, "This is the result of focusing on quality growth centered on high-quality contracts and conservative asset management, without recklessly joining overheated sales competition, staying true to the basics."

Third-quarter revenue was 2.7555 trillion KRW, and operating profit was 662.5 billion KRW, increasing by 3.2% and 25.7% respectively compared to the previous year.

Meritz Fire & Marine Insurance has maintained a profit growth trend, recording net profits exceeding 100 billion KRW each quarter in 2021, 200 to 300 billion KRW each quarter in 2022, and over 400 billion KRW each quarter this year.

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