# Meritz Fire & Marine Insurance

Meritz Fire & Marine Insurance is an Insurance based in Seoul, South Korea.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Seoul, South Korea
- **Region:** Asia
- **Address:** Seoul, South Korea
- **Founded:** 1922
- **Assets under management:** Undisclosed
- **Website:** meritzfire.com
- **LinkedIn:** https://www.linkedin.com/company/meritz-fire-&-marine-insurance-co.-ltd

## Regulatory record

- **Reports private funds:** No

## About

Founded in 1922 and spun off from the Hanjin Group in 2005, Meritz Fire & Marine Insurance sits inside Meritz Financial Group under Chairman Cho Jung-ho, the youngest son of Hanjin’s founder Cho Choong-hoon. The separation from the chaebol created a focused non-life platform writing automotive, fire, health, and pet insurance lines across South Korea. The balance sheet invests primarily in direct real estate — Meritz Tower on Gangnam-daero and the Youido Finance Centre in Yeouido anchor the domestic portfolio — and the firm holds overseas financial accounts in Switzerland. The firm’s underwriting mix spans long-tail and short-tail liabilities, producing an asset-liability profile that demands significant fixed-income liquidity alongside physical property. No fund-commitment or co-investment activity is publicly disclosed. Meritz Fire & Marine lacks a publicly detailed investment team or disclosed deployment figure, operating the general account from headquarters in Seoul. Altss research confirms the family governance axis includes Cho Hyo-jae, Chairman Cho Jung-ho’s daughter, employed within the firm, while Meritz Financial Group CSR Programs represent the philanthropic vehicle. No private-equity, venture, or hedge-fund allocations have been surfaced for the insurance balance sheet. What distinguishes the firm’s architecture is the chaebol-to-insurance pivot: a legacy conglomerate carve-out repurposed into a pure non-life carrier with a real-asset-heavy mandate. The Cho family retains control through the holding-company structure, and Kim Yong-beom’s dual role as Vice Chairman and CEO across both the group and the insurance entity concentrates investment authority without the typical multi-family-office layering seen at other Korean asset owners.

## Sectors

- Insurance

## People

- Kim Yong-beom — Vice Chairman and CEO
- Cho Jung-ho — Chairman of Meritz Financial Group

## Questions

### Who runs investment decisions at Meritz Fire & Marine Insurance?

Vice Chairman and CEO Kim Yong-beom, who also serves as Vice Chairman and CEO of the parent Meritz Financial Group, oversees the firm’s operations and balance-sheet management. Chairman Cho Jung-ho controls the holding company but Kim Yong-beom is the named executive leading Meritz Fire & Marine. No dedicated CIO or investment committee has been disclosed publicly.

### How is Meritz Fire & Marine Insurance related to Hanjin Group?

Meritz Fire & Marine Insurance was originally part of the Hanjin conglomerate, founded by Cho Choong-hoon. The firm was spun off in 2005 and now operates under Meritz Financial Group, chaired by Cho Jung-ho, Hanjin founder Cho Choong-hoon’s youngest son. The separation ended direct operational ties to the transportation conglomerate.

### Who owns Meritz Fire & Marine Insurance?

Meritz Fire & Marine Insurance is owned by Meritz Financial Group, a holding company controlled by Chairman Cho Jung-ho and his family. Cho Hyo-jae, Chairman Cho’s daughter, is an employee at the insurance entity. No external institutional or private-equity ownership stake has been disclosed.

### Which geographies does Meritz Fire & Marine Insurance invest in?

Domestic exposure centers on Seoul trophy real estate — Meritz Tower in Gangnam and Youido Finance Centre in Yeouido. Internationally, Altss research confirms the firm holds overseas financial accounts in Switzerland. No additional investment geographies are publicly disclosed.

## Related profiles

- [Meritus Kirchner Capital](https://altss.com/profile/meritus-kirchner-capital)
- [Meritz Securities](https://altss.com/profile/meritz-securities)

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Last updated: 2026-07-06T00:36:10.949Z

Canonical page: https://altss.com/profile/meritz-fire-marine-insurance

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