Meritz Fire & Marine Insurance Posts 1.681 Trillion Won in Net Income Last Year, Down 1.7% Year-on-Year

Meritz Fire & Marine Insurance announced on the 11th that its net income last year was 1.681 trillion won, down 1.7% from the same period a year earlier.

Last year's revenue was 12.26 trillion won, up 6.1% year-on-year. Over the same period, operating profit was 2.2878 trillion won, down 0.3%.

Investment gains and losses came to 862.3 billion won, an increase of 13.2% from a year earlier. As of the end of last year, the investment yield on asset management was about 3.7%.

Net income in the fourth quarter of last year was 229.9 billion won, up 5.6% from the same period a year earlier. Operating profit was 333.8 billion won, an increase of 14.7%.

The provisional K-ICS risk-based capital ratio at the end of last year was 237.4%, maintaining a stable soundness trend.

Meritz Fire & Marine Insurance explained, "Despite the difficult external environment, we delivered stable results by focusing on strengthening our core business competitiveness and pursuing a qualitative growth strategy under the principle of 'maximizing total value'." It added, "We have demonstrated solid earnings power despite the deterioration in internal and external business conditions, and are continuing to post robust results through a profitability-focused strategy and stable asset management performance."

This content was produced with the assistance of AI translation services.