Hyundai Marine & Fire strengthens profits with high-quality bond assets

Despite rate pressures on its auto line, HMF posted 15.8% ROE last year.

Hyundai Marine & Fire Insurance (HMF) is expected to bolster long‑term profitability and cushion capital volatility after AM Best noted sensitivity in its long‑duration liabilities. 

Lower domestic interest rates and regulatory discount cuts drove a drop in capital and surplus at end‑2024. 

HMF will continue asset‑liability duration matching, with most investments in high‑quality bonds.

Despite rate pressures on its auto line, HMF posted 15.8% ROE and a 92.2% combined ratio in 2024. 

Efforts to improve new business margins should support fundamentals. 

Remaining a top non‑life insurer with an 18% market share, HMF benefits from diversified products and Hyundai group partnerships.