Samsung Fire & Marine Insurance posts stable earnings outlook

Its underwriting remains stable with a low combined ratio, AM Best said.

AM Best expects Samsung Fire & Marine Insurance (SFM) to maintain strong capital and stable earnings whilst continuing selective overseas expansion, according to AM Best.

SFM’s capitalisation is expected to stay at the strongest level, supported by robust capital, conservative investments and a debt-free balance sheet. 

The company holds the highest solvency ratio amongst South Korean non-life insurers and plans to use excess capital for growth and shareholder returns. 

Its underwriting remains stable with a low combined ratio, supported by long-term policies and a profitable auto line. 

SFM held 22% of the domestic non-life market in 2024 and is expected to leverage its strong brand, tied-agent network and leading online auto channel.