Samsung Fire & Marine told the Korea Exchange on September 3 that no acquisition has been decided, hours after the Korea Economic Daily reported a Canopius takeover.
Samsung Fire & Marine Insurance Co., Ltd. (KRX:000810) grew interest income from ₩1,968.1bn in FY2022 to ₩2,371.3bn in FY2025, a rise of 20.5% across three years.
Samsung Fire & Marine Insurance Co., Ltd. (KRX:000810) grew operating income from ₩1,506.9bn in FY2021 to ₩2,659.1bn in FY2025, a rise of 76% in four years.
Samsung Fire & Marine Insurance Co., Ltd. (KRX:000810) reported total equity of ₩36.21tn at June 30, up from ₩16.65tn a year earlier and ₩21.29tn at December 31.
Samsung Insurance (KRX:000810) and Samsung Life Insurance are exploring the acquisition of minority stakes in UK and US insurance companies, the company said Wednesday.
Samsung Fire & Marine Insurance and Samsung Life Insurance are considering buying stakes in Canopius, a London insurance company, and Principal Financial in the United States.
| Period | 000810 | KOSPI | Difference |
|---|---|---|---|
| 1 week | -3.5% | -1.5% | -2.0% |
| 1 month | +6.9% | +5.2% | +1.8% |
| 3 months | -9.2% | -22.6% | +13.4% |
| 6 months | +41.7% | +31.3% | +10.4% |
| Year to date | +33.4% | +58.7% | -25.3% |
| 1 year | +46.4% | +108.9% | -62.6% |
Closed at 77% of the way from its 52-week low (₩436,500) to its 52-week high (₩730,000).
Samsung Fire filed unaudited second-quarter numbers on 13 August, before the reviewed half-year statements. Revenue was ₩6,461.4bn, down 5.8% from a year earlier and down 3.2% from the first quarter. Operating income was ₩885.3bn, up 9.1% year on year. Pretax income was ₩993.1bn, up 17.9%, and net income was ₩738.7bn, up 15.7%. For the half, revenue rose 1.3% to ₩13,137.7bn while net income rose 10.1% to ₩1,374.0bn. Profit attributable to owners of the parent was ₩737.7bn in the quarter, almost all of the consolidated figure. The filing defines revenue for an insurer as insurance revenue plus investment revenue under Korean IFRS, which is why the line falls while every profit line rises.
Samsung Fire & Marine is South Korea's largest property and casualty insurer, with roughly a quarter of the domestic non-life market. Its business splits three ways, and the proportions differ from what a US reader might expect. The largest and most profitable piece is long-term insurance, meaning health, cancer, disability and accident policies sold on twenty-year-plus terms, which behave more like life products than like US property cover. Second is automobile insurance, a compulsory line whose pricing is effectively supervised by the government and whose loss ratio moves with traffic volumes, medical inflation and repair costs. Third is general insurance, the commercial fire, marine and liability business that a US reader would recognise as ordinary P&C. It also runs a growing overseas book and an asset management operation investing the float. Unlike its affiliate Samsung Life, it does not sit on a controlling block of Samsung Electronics, so its share price reflects its own underwriting and investment results rather than a group ownership chain. For a US reader it is closest to Chubb or Travelers in market position, though with a health insurance business inside it and a regulated motor line it cannot freely price.
| Sector | Insurance | Employees | |
| Market | KOSPI | Founded | |
| Korean name | 삼성화재 | Head office |
| Symbol | Last Price |
|---|---|
| 032830Samsung Life Insurance co., Ltd | ₩297,500 -1.8% |
| 005830DB Insurance Co., Ltd. | ₩195,700 -3.6% |
| 088350Hanwha Life Insurance | ₩5,740 -6.1% |
| 001450Hyundai Marine & Fire Insurance Co., Ltd. | ₩51,100 -4.5% |
| 031210Seoul Guarantee Insurance Company | ₩43,650 -2.7% |
| 085620Mirae Asset Life Insurance | ₩19,920 -5.1% |
| 003690Korean Reinsurance Company | ₩14,500 -6.3% |
| 000370Hanwha General Insurance Co., Ltd. | ₩8,420 -5.9% |
| 000400Lotte Non-Life Insurance Co., Ltd. | ₩2,050 -4.4% |