Meritz Financial Group reported first-quarter consolidated net profit of 680.2 billion won, up 9.6% from a year earlier, the company said Wednesday. Revenue surged 98.2% to 16.31 trillion won, while operating profit rose 18.4% to 854.8 billion won.
Meritz Fire & Marine Insurance posted first-quarter net profit of 466.1 billion won on a separate basis, up 0.8% year-on-year. Revenue rose 9.8% to 3.31 trillion won. The company said the results reflect strengthened core competitiveness across all business lines, with insurance profit of 334.6 billion won and investment profit of 296.2 billion won striking a balance.
The preliminary Korean Insurance Capital Standard (K-ICS) ratio stood at 240%, maintaining a stable trend. "Despite a challenging internal and external environment, we are sustaining growth through our differentiated 'total value maximization' strategy," a Meritz Fire & Marine official said.
Meritz Securities posted first-quarter net profit of 254.3 billion won, up 35.7% from a year earlier. The results were driven by balanced growth across all business divisions including corporate finance, asset management and retail, along with improved profitability at its capital subsidiary.
"Despite external volatility including geopolitical risks stemming from the Middle East, all business divisions delivered solid results through structural improvements," a Meritz Securities official said.
