Samsung Fire & Marine Reports Earnings Results for the First Quarter of 2020
May 14, 2020 at 03:00 am EDT
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Samsung Fire & Marine reported earnings results for the first quarter of 2020. For the quarter, the company’s net income was down 28.9% year-on-year to post KRW 164 billion, but it is in line with the market consensus if excluded the large claims events from the general insurance. Direct premiums written was up 5.9% year-on-year. In the first quarter, the pretax income declined on a year-over-year basis, but the accumulated figure from January until April shows a similar Year-on-Year trend.
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.