Samsung Fire & Marine Insurance Co Ltd (XKRX:000810)
â‚© 335000 -12500 (-3.6%) Market Cap: 14.06 Til Enterprise Value: 14.06 Til PE Ratio: 7.47 PB Ratio: 0.88 GF Score: 62/100

Q1 2022 Samsung Fire & Marine Insurance Co Ltd Earnings Call Transcript

May 12, 2022 / 01:00AM GMT
Release Date Price: â‚©199500 (+1.79%)
Unidentified Company Representative

[Interpreted] Good morning. I am Kim (inaudible), Head of the IR team. Thank you for joining Samsung Fire & Marine Insurance First quarter 2022 Earnings Conference Call. We will begin with our CFO, Hong Seong-Woo's presentation on key earnings highlights and future business strategy, followed by Q&A, during which answers will be provided by the management team. The whole session will last around 1 hour. And now I invite our CFO, Hong Seong-Woo.

Hong Seong;Woo
Samsung Fire & Marine Insurance Co., Ltd. - CFO

[Interpreted] Good morning. This is CFO, Hong Seong-Woo, allow me to present on the first quarter 2022 earnings results of the company. Q1 pretax profit was KRW 560.2 billion with net profit at KRW 409.1 billion, down 5.2% year-over-year, but excluding the one-off profit in Q1 of last year, net profit recorded a growth of more than 28%. First, long-term business saw year-over-year decline in new sales following constrained sales activities on the back of the sudden spread of the COVID pandemic. While

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