Samsung Fire Q3 Net Profit Up 13.7% YoY

Samsung Fire & Marine Insurance reported a 13.7% year-on-year (YoY) increase in net profit for the third quarter of 2024, reaching $1.33 billion (KRW 1.87 trillion). This growth was attributed to stable long-term insurance earnings and robust investment returns.

However, the company’s insurance profit declined by 7.7% YoY to $1.21 billion (KRW 1.7 trillion). In contrast, investment profits surged, more than doubling to $556.14 million (KRW 783.3 billion).

Additionally, the insurer’s customer base saw a modest increase, rising by 760,000 to a total of 12.57 million.

(Note: The exchange rate used is $1.00 = KRW 1403.18)

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