Samsung Fire & Marine Insurance (000810) Q1 2025 earnings summary

Executive summary

• Net profit for FY2025 1Q declined 13.2% year-over-year to 608bn KRW, impacted by market volatility and natural catastrophes.

• Operating profit decreased 10.6% year-over-year to 816bn KRW, with insurance profit and investment profit both slightly down.

• Number of customers reached 13.04 million.

Financial highlights

• Insurance profit fell 15.4% year-over-year to 525bn KRW; investment profit was stable at 291bn KRW, down 0.6%.

• Insurance revenue grew 12.1% year-over-year to 4.57tn KRW, while insurance expenses rose 24.4%.

• Pre-tax profit dropped 10.4% year-over-year to 822bn KRW.

• Net profit attributable to majority interest was 608bn KRW, down from 701bn KRW a year ago.

Outlook and guidance

• Plans for progressive increase in shareholder return and annual cancellation of 2.5-3.0%p of treasury shares over four years.

• Stable DPS growth targeted, subject to business environment and regulatory changes.