Meritz Fire & Marine Insurance has surpassed 1 trillion won in net profit for the first half of the year, driven by a return to profitability in auto insurance.
The company reported a net profit of 1.0243 trillion won for the first half of the year, marking a 3.8% increase compared to the same period last year. In the second quarter, net profit rose 6.4% year-on-year to 558.3 billion won.
Revenue for the first half reached 6.7074 trillion won, an 8.0% increase, while operating profit grew by 5.4% to 1.4006 trillion won. Insurance profit was recorded at 697.5 billion won, with investment profit at 703.1 billion won.
In the insurance sector, sales of long-term and general insurance increased, and the turnaround in auto insurance contributed to the improvement in insurance profit. This, combined with strong investment returns, led to an overall increase in net profit.
The profitability of the asset management division also improved. The investment return rate for asset management in the first half was 6.0%, up 0.6 percentage points from the end of the first quarter. The provisional solvency ratio (K-ICS) at the end of the first half stood at 231%.
* This article has been translated by AI.
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