Samsung Fire & Marine Insurance Co., Ltd. Announces Earnings Results for the First Quarter of 2018; Provides Earnings Guidance for the Year 2018
May 14, 2018 at 03:00 am EDT
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Samsung Fire & Marine Insurance Co., Ltd. announced earnings results for the first quarter of 2018. For the quarter, net profit recorded of 40.1% declined year-over-year to achieve KRW 3,301.1 billion. However, excluding the disposal gains in the first quarter of 2017, the pretax income posted an 11% growth on year. The direct premium written was down 24% year-on-year to KRW 4.5 trillion
The company provided earnings guidance for the year 2018. For the year, the company expects the amortization to be around KRW 300 billion. The company believes that it will be able to deliver profit at the end of 2018.
Samsung Fire & Marine Insurance Co Ltd is a Korea-based insurance company specialized in the non-life insurance business. The Companyâs non-life insurance products include fire insurance, marine insurance, technology insurance, automobile insurance, accident insurance, liability insurance, overseas casualty insurance, long-term insurance, personal pension insurance and enterprise insurance, among others. The Company also provides loan services, such as mortgage loans, insurance contract loans and credit loans, emergency relief and claims surveying services. The Company provides its insurance products within domestic market and to overseas markets, such as Indonesia, Brazil, China and others.
SAMSUNG FIRE & MARINE INSURANCE CO., LTD. 
