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Samsung Fire & Marine posts 46.4% YOY decline in Q2 profit

Samsung Fire & Marine Insurance Co. Ltd.'s second-quarter net profit dropped 46.4% to 195.3 billion South Korean won from 364.5 billion won a year ago.

EPS was 4,903 won, compared to 9,152 won.

Net premium earned increased year over year to 4.490 trillion won from 4.402 trillion won. Direct premiums written climbed to 4.741 trillion won from 4.592 trillion won.

Underwriting losses rose to 248.7 billion won from 135.3 billion won, while net investment profit fell to 532.6 billion won from 648.0 billion won.

As of Aug. 8, US$1 was equivalent to 1,207.19 South Korean won.