Samsung Fire & Marine Insurance Reports Decline in Q4 Net Profit

SEOUL, South Korea — Samsung Fire & Marine Insurance Co. has announced a significant decrease in its net profit for the fourth quarter, reporting a 46.8 percent drop to 175.5 billion won (US$131.5 million).

According to Yonhap News Agency, The company revealed in a regulatory filing that its operating profit for the October-December period also fell by 34.5 percent year-on-year to 203.4 billion won, even though revenue saw an 11.5 percent increase to 5.11 trillion won.

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