Home > Business > Industry

Samsung Fire & Marine Insurance 2024 net income up 14% to $1.4 billion

Published: 12 Feb. 2025, 09:54

A Samsung Fire & Marine Insurance building [SAMSUNG FIRE & MARINE INSURANCE]

Samsung Fire & Marine Insurance on Wednesday reported its 2024 net profit of 2.07 trillion won ($1.4 billion), up 14 percent from a year earlier.

The company said in a regulatory filing that it posted 2.64 trillion won in operating profit for the year, compared to 2.35 trillion from the previous year. Annual sales rose 8.8 percent to 22.65 trillion won.

The company also reported its fourth-quarter net income of 207.9 billion won, up 16.6 percent from a year earlier.

Operating income for the October-December period was 252.8 billion won, up 22.6 percent from a year ago, the company said in a regulatory filing. Sales rose 23.1 percent to 6.29 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 219.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap