Meritz Fire & Marine Insurance Reports Record High Net Profit of 1.5748 Trillion KRW Last Year

Recorded Sales of 10.8617 Trillion KRW and Operating Profit of 2.1171 Trillion KRW

Meritz Fire & Marine Insurance announced on the 22nd that its net profit on a separate basis last year reached 1.5748 trillion KRW, a 25.2% increase compared to the previous year, achieving the highest performance in its history. In the fourth quarter of last year, the net profit was 278.7 billion KRW, ranking first in the non-life insurance industry.

Meritz Fire & Marine Insurance secured the top position in net profit in the industry for two consecutive quarters starting from the third quarter of last year through steady growth in long-term profit and loss and asset management capabilities. Additionally, it achieved net profits exceeding 100 billion KRW for 16 consecutive quarters since the first quarter of 2020.

Last year, Meritz Fire & Marine Insurance recorded sales and operating profit of 10.8617 trillion KRW and 2.1171 trillion KRW, respectively.

A representative from Meritz Fire & Marine Insurance explained, “The continued strong performance is due to focusing on sales growth centered on high-quality contracts to improve the qualitative value of new contracts without participating in the industry's cutthroat price competition. We are also making efforts to enhance core business competitiveness through efficient cost management.”