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Samsung Fire & Marine eyes China's marine insurance market

July 1, 2014 - 6:00am

South Korea-based Samsung Fire & Marine Insurance Co. Ltd. and three to four Chinese firms are together planning to establish a marine insurer in the Chinese market, reports Yonhap News Agency citing sources.

Samsung Fire & Marine is looking to obtain a 15% stake in the new insurer for 15 billion South Korean won ($14.7 million), industry sources revealed.

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