Hyundai Marine & Fire Insurance (001450) Q1 2025 earnings summary

Executive summary

• Net income for 1Q 2025 was KRW 203.9 billion, a 57.4% decrease year-over-year from KRW 477 billion in 1Q 2024, with basic EPS of KRW 2,600.

• Total operating revenue for Q1 2025 was KRW 4,226.8 billion.

• Total assets stood at KRW 50,106.0 billion and total equity at KRW 4,029.9 billion as of March 31, 2025.

• The solvency margin ratio (K-ICS) was 159.4%, indicating stable capital adequacy.

• Insurance service results declined sharply across commercial, long-term, and auto segments compared to the same quarter last year.

Financial highlights

• Net investment income for 1Q 2025 was KRW 107 billion, down 1.2% year-over-year.

• Operating income for Q1 2025 was KRW 283.7 billion, down from KRW 1,244.1 billion in the previous quarter.

• Consolidated net income decreased to KRW 203.9 billion from KRW 850.5 billion in the previous quarter.

• Shareholders' equity decreased to KRW 4,213 billion from KRW 4,927 billion at the end of 2024.

• Insurance contract liabilities rose to KRW 36,729.2 billion.

Outlook and guidance

• Forward-looking statements are subject to change due to market conditions and are not guaranteed.

• The company aims to strengthen capital through improved long-term insurance profitability, efficient business expense management, and maximizing investment gains.

• No new business initiatives are planned in the near term.