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Samsung Fire & Marine Insurance

Samsung Fire & Marine Insurance Co., Ltd., together with its subsidiaries, provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom. The company offers automobile insurance, long-term damage insurance, personal pensions, and retirement pensions, as well as claim adjustment, agency, and insurance consulting services. It also provides general insurance that covers risks related to business management, personal property, and body, including fire, marine, technology, liability, injury, and disease. The company was founded in 1952 and is headquartered in Seoul, South Korea.

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Flashlight Capital Offers to Buy Samsung's 20.6% S-1 Stake

Flashlight Capital Partners has offered to acquire the entire 20.6% stake in S-1 Corporation held by five Samsung Group affiliates for KRW 906.6 billion, or KRW 116,000 per share, a 45% premium to the current market price. The offer, made to Samsung SDI, Samsung Life, Samsung Fire & Marine, Samsung Securities, and Samsung Card, gives the boards until September 23 to respond. Flashlight Capital argues that none of the affiliates has a strategic reason to retain the stake, noting that the proceeds would be equivalent to about 10% of Samsung Life's and 13% of Samsung Card's net income. The activist investor, led by former Carlyle Group Korea head Sanghyun Lee, criticized S-1's board for a hollow response to its June 23 proposals and said it will keep all options open.
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Samsung Fire & Marine posts record first-half profit on insurance and investment gains

Samsung Fire & Marine Insurance reported a record semi-annual pre-tax profit of 1,850.8 billion won, up 10.9% year-over-year, driven by strong insurance and investment performance. Insurance profit increased 10.9% to 1,114.5 billion won, while investment profit surged 22% to 788 billion won, supported by higher-yielding assets and stock market gains. S&P upgraded the company's credit rating to AA, making it the first and only Korean private company to achieve this status. Total contractual service margin grew by 427.1 billion won year-to-date to 14,594.7 billion won, indicating strong future profit potential. The company also highlighted a turnaround in auto insurance to a quarterly profit of 29.6 billion won and an 80.7 billion won increase in property and casualty insurance profit.
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