Samsung Fire & Marine Insurance (000810) Q2 2025 earnings summary

Executive summary

• First half consolidated pretax profit was KRW 1,664.9 billion, down 3.4% year-over-year, with net income attributable to majority shareholder at KRW 1,045.6 billion.

• Net profit for 1H FY2025 reached 1.25tn KRW, supported by strong investment gains despite a decline in insurance profits year-over-year.

• Operating profit was 1.65tn KRW, down 3.8% year-over-year, while investment profit rose 24.4% to 646bn KRW.

• Q1 profit declined 10.4% year-over-year, but Q2 profit rebounded by 4.5% to KRW 842.6 billion.

• All business divisions focused on strengthening core competitiveness and enhancing shareholder value, including share cancellation and additional stake acquisition in Canopius.

Financial highlights

• Insurance profit for 1H FY2025 was 1,005bn KRW, down 16.1% year-over-year; investment profit increased 24.4% to 646bn KRW.

• Insurance revenue grew 9.4% year-over-year to 9.2tn KRW, while insurance expenses rose 17.8%.

• Investment yield improved to 3.64%, up 0.14 percentage points year-over-year; investment profit rose 5.6% to KRW 1,505.2 billion.

• Auto insurance revenue slightly declined 1.1% year-over-year to KRW 2,765 billion; profit dropped 79.5% to KRW 30.7 billion.

• P&C insurance revenue grew 5.9% year-over-year to KRW 847.3 billion, but profit declined 8.3% to KRW 106.8 billion due to higher loss ratio.

Outlook and guidance

• Focus in H2 on quality revenue from high CSM margin products and operational efficiency to strengthen profitability.

• Auto insurance to pursue profit-focused pricing, enhanced claims management, and new growth models for sustainability.

• P&C to strengthen pricing, diversify portfolio, and enhance accident prevention for balanced growth.

• Asset management to prioritize risk management, asset quality, and portfolio diversification for stable profits.

• Plans for progressive increases in shareholder returns and annual cancellation of 2.5–3.0% of treasury shares over four years.