Meritz Fire & Marine Insurance Posts 1.71 Trillion KRW Net Profit Last Year... Five Consecutive Years of Record Performance

Meritz Fire & Marine Insurance announced on the 19th that it recorded a net profit of 1.7105 trillion KRW on a separate basis last year. This figure represents a 9.2% increase compared to the previous year, marking the fifth consecutive year of record-high profits since 2020 and bringing the net profit close to the '2 trillion KRW milestone.'

Last year, sales amounted to 11.5578 trillion KRW, and operating profit was 2.2952 trillion KRW, increasing by 6.4% and 9%, respectively, compared to the previous year.

Profitability was secured through a strategy focused on long-term insurance and the strong performance of general insurance, resulting in insurance profit increasing by 2.4% year-on-year to 1.5336 trillion KRW.

Investment income also rose by 25.0% to 761.6 billion KRW, reaffirming excellent asset management capabilities. As of the end of the fourth quarter last year, the asset management investment yield was approximately 3.7%.

The provisional solvency margin ratio (K-ICS) at the end of last year was recorded at 247.6%.

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