Hyundai Marine & Fire Insurance (001450) Q3 2025 earnings summary

Executive summary

• Net income for 1–3Q 2025 was KRW 634 billion, down 39.4% year-over-year, with a significant drop in insurance service results and a notable non-recurring gain in the prior year.

• Total consolidated revenue for the first nine months of 2025 was KRW 13.6 trillion, with consolidated net income of KRW 1.13 trillion, up from KRW 850.5 billion year-over-year.

• The company maintained a robust capital position, with a solvency ratio of 179.8% as of September 2025.

• Insurance service result declined 49.6% year-over-year for 1–3Q 2025, with all segments except commercial showing negative trends.

• The insurance business remains the core segment, with stable growth in long-term and auto insurance, and continued focus on digital transformation and risk management.

Financial highlights

• Net investment income increased 4.0% year-over-year to KRW 326 billion for 1–3Q 2025, but fell 30.9% sequentially in 3Q.

• Consolidated operating income for the first nine months of 2025 was KRW 1.39 trillion, up from KRW 1.24 trillion in the prior year.

• Basic earnings per share (EPS) for the period was KRW 14,466, compared to KRW 10,847 in the previous year.

• Total assets reached KRW 50.7 trillion, with insurance contract liabilities at KRW 36.3 trillion.

• Excluding a KRW 274.4 billion non-recurring gain in 2024, net income decline was less severe.

Outlook and guidance

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

• The company expects continued stable growth in long-term and auto insurance, with a focus on profitability and digital channel expansion.

• Management is prioritizing capital strength, cost efficiency, and product innovation to adapt to regulatory and market changes.