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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Samsung Fire posts strong earnings in 18Q4’

  • PUBLISHED :February 21, 2019 - 11:36
  • UPDATED :February 21, 2019 - 11:36
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Samsung Fire and Marine Insurance reaped strong earnings in the fourth quarter last year, and its dividend rate this year will be high, said Korea Investment and Securities on Feb. 21, raising the target price to 360,000 won (US$320) from 326,000 won.




Its net profit from the fourth quarter last year surged 301.3 percent on-year to 154.3 billion won, highlighting its capacity for risk and profits management, said analysts Yoon Tae-ho and Cha Ju-yeong.

Earnings expectations are not high this year for the insurance sector due to concerns over fierce competition and unstable rates, but Samsung Fire’s mid- to long-term capital strategy will boost its PER and PBR, said the analysts. Ample cash reserves and the ability to further raise dividends should also be taken into account they said, underlining the plan to raise dividend rates to 50 percent by 2021.

By Hwang You-mee (glamazon@heraldcorp.com)

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