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Leading South Korean nonlife insurers post solid earnings

Posted On: Nov. 14, 2022 9:48 AM CST

Financial results

Major South Korean nonlife insurers, Samsung Fire & Marine Insurance Co. Ltd., Hyundai Marine & Fire Insurance Co. Ltd., and DB Insurance Co. Ltd., saw solid earnings in the first nine months of the year as their loss ratios improved, Pulse News reported. While Samsung Fire & Marine’s net profit increased 1% year-on-year to more than 1 trillion South Korean won ($743 million), Hyundai Marine & Fire’s net profit increased by more than 23% to KRW478.5 billion and DB Insurance’s net profit surged almost 27% to KRW817 billion.