Hyundai Marine & Fire Insurance (001450) Q3 2024 earnings summary

Executive summary

• Net income for the first nine months of 2024 rose 33.1% year-over-year to KRW 1,046 billion, with a significant increase in insurance service results, especially in long-term and commercial segments.

• Third quarter net income declined 40% sequentially from Q2, reflecting a sharp drop in insurance service results across all segments.

Financial highlights

• Insurance service result for 1–3Q 2024 increased 44.6% year-over-year to KRW 1,091 billion.

• Net investment income for 1–3Q 2024 was KRW 313 billion, up 0.5% year-over-year.

• ROE improved to 17.0% for 1–3Q 2024, up 9.6 percentage points from the prior year.

Outlook and guidance

• Forward-looking statements are based on internal expectations and external sources, but actual results may differ due to market volatility.