Samsung Fire & Marine Insurance Reports Q3 Net Profit of 195.6 Billion KRW, Up 22.4% YoY
[Asia Economy Reporter Ki Ha-young] Samsung Fire & Marine Insurance announced on the 16th that its net profit for the third quarter of this year reached 195.6 billion KRW, a 22.4% increase compared to the same period last year.
Revenue was 4.9527 trillion KRW, and operating profit was 286.2 billion KRW, increasing by 3.6% and 17.1%, respectively.
The cumulative net profit for the third quarter was 628.9 billion KRW, up 7.4% year-on-year. Revenue totaled 14.7184 trillion KRW, up 4.3%, and operating profit was 926.3 billion KRW, up 7.8%.
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Looking at the loss ratios by insurance category, long-term insurance fell by 1.2 percentage points from the previous year to 82.2%, and automobile insurance decreased by 3.3 percentage points to 84.8%. General insurance rose by 6.8 percentage points to 81.6% due to an increase in high-cost accidents and natural disasters.
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