Meritz Fire & Marine Insurance 1Q Net Profit 404.7 Billion KRW... Up 24.5% YoY

Meritz Fire & Marine Insurance achieved a net profit exceeding 400 billion KRW in the first quarter of this year.

Meritz Fire & Marine Insurance announced on the 12th that it recorded a net profit of 404.7 billion KRW in the first quarter on a separate basis. This represents a 24.5% increase compared to the same period last year. The quarterly net profit has surpassed 100 billion KRW for 13 consecutive quarters since the first quarter of 2020.

Operating profit also rose 24.1% year-on-year to 554.6 billion KRW. Sales increased by 17.7% during the same period to 2.7309 trillion KRW.

Meritz Fire & Marine Insurance stated, "We achieved solid results through the value growth-centered management policy that we have continuously pursued," adding, "In particular, focusing on profitability-driven sales growth by securing high-quality new contracts was effective."