Written by 3:41 PM Economics

Samsung Fire & Marine Insurance, first-half net profit at 1 trillion 312.4 billion won… up 8.2% from the previous year.

CSM total amount stands at 13 trillion 955.3 billion won as of the end of the second quarter, an increase of 6.525 billion won compared to the previous year-end.
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Samsung Fire & Marine Insurance announced on the 14th that its consolidated net income attributable to the owners of the parent company for the first half of the year increased by 8.2% year-on-year to 1 trillion 312.4 billion won. / The Fact DB,
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, ‘Samsung Fire & Marine Insurance announced on the 14th that its consolidated net income attributable to the owners of the parent company for the first half of the year increased by 8.2% year-on-year to 1 trillion 312.4 billion won. The consolidated pre-tax profit reached 1 trillion 723.8 billion won.’,
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, ‘Among the pre-tax profit, insurance profit demonstrated stable insurance income with 1 trillion 197.6 billion won, and investment profit recorded 519.4 billion won, a 48.6% increase year-on-year, driven by improved operational revenue and valuation gains.’,
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, ‘Long-term insurance achieved a monthly average guarantee new contract sales of 183 billion won through the launch of competitive new products and strategic responses to the GA channel, resulting in a 24.3% growth year-on-year. New contract CSM recorded 1 trillion 638.3 billion won, an increase of 13.6% year-on-year.’,
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, ‘As a result, the CSM size recorded 13 trillion 955.3 billion won, an increase of 6.525 billion won compared to the previous year-end, and insurance profit showed 904.8 billion won due to increased CSM amortization gain.’,
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, ‘Automobile insurance saw a 2.2 percentage point increase year-on-year to a loss ratio of 78.5% due to the accumulated reduction in automobile insurance rates, but recorded insurance profit of 149.3 billion won by achieving insurance revenue of 2 trillion 796.9 billion won in the first half through differentiated marketing strategies for channels and target customers.’,
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, ‘General insurance showed insurance revenue of 800.2 billion won in the first half, growing in conjunction with domestic and overseas business sales. However, the increase in high-cost accidents led to an insurance profit of 1.165 billion won.’,
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, ‘Asset management improved its first half investment yield to 3.50% from the previous year-on-year by 0.36 percentage points through efforts to enhance holding profit sources and expand valuation gains such as alternative investments, recording an operating asset-based investment return of 1 trillion 425.4 billion won, a 17.9% increase year-on-year.’,
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, ‘Kim Junha, CFO of Samsung Fire & Marine Insurance, said, “Even amid continued internal and external uncertainty and escalating market competition, we have continued to achieve outstanding performance in all sectors such as sales, profit, and customer expansion.” He added, “We will do our best to secure a stable future revenue base through fundamental changes and innovation, striving to ensure a year of substantial growth.”‘,
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