Hyundai Marine & Fire Insurance said first-half net profit on a separate basis rose 36.4% from a year earlier to 615.1 billion won ($443 million), with underwriting gains in long-term and general insurance offsetting weaker investment income and softer auto insurance results. Long-term insurance earnings climbed 105.7% to 613.9 billion won as the gap between projected and actual claims narrowed and a one-time reversal followed the application of new actuarial assumption guidelines. General insurance earnings increased 38.9% to 102.2 billion won, helped by a base effect from large claims a year earlier and stabilizing loss ratios. Auto insurance posted a 10.2 billion won loss as accumulated premium cuts and rising claims costs weighed on the business, while a delay to planned reform of the eight-week rule for treating minor-injury patients also appeared to hurt results. Investment earnings fell 55.3% to 105.8 billion won, although the company said the figure was recovering as some first-quarter valuation losses were recouped alongside rising interest rates. In the second quarter, net profit rose 58.2% to 391.8 billion won, auto insurance returned to a 3.8 billion won profit, and long-term insurance earnings rose 89.0% to 348.0 billion won. The contractual service margin (unearned future profit reserve) stood at 9.8944 trillion won at the end of the first half, up 11.2% from the end of last year, while the Korean Insurance Capital Standard, or K-ICS (insurer solvency ratio), improved by 18.9 percentage points to 209.0%, aided by higher interest rates.