Meritz Fire & Marine Insurance Reports KRW 466.1 Billion Q1 Net Profit, Up 0.8% YoY
Meritz Fire & Marine Insurance announced on May 14 that its standalone net profit for the first quarter was KRW 466.1 billion. This represents an increase of 0.8% compared to the same period last year.
During the same period, sales reached KRW 3.3079 trillion, while operating profit stood at KRW 630.7 billion. These figures reflect increases of 9.8% and 1.4%, respectively, year-on-year.
For the same period, insurance profit was KRW 334.6 billion and investment profit was KRW 296.2 billion. The asset management investment return rate achieved was 5.4%.
The provisional risk-based capital ratio (K-ICS) for the first quarter was recorded at 240%.
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A Meritz Fire & Marine Insurance representative stated, "Despite challenging internal and external conditions, Meritz Fire & Marine Insurance has continued its growth momentum through its unique 'maximizing total value' strategy."
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