Business · Companies · 2 hrs ago

Samsung Fire's annual profit is expected to grow despite weak third-quarter investments

Samsung Fire's annual profit is expected to grow despite weak third-quarter investments

Samsung Fire's insurance business improved in the third quarter, but its investment results weakened.

The South Korean insurer's asset valuations fell after stock prices were adjusted lower at the end of September and interest rates rose.

That weakness is expected to leave net income below market expectations, despite the improvement in insurance profit.

Still, annual profit is forecast to grow.

A key factor for the fourth quarter is Samsung Electronics' planned cash dividend of about 30 trillion won; its per-share amount has yet to be finalized.

Samsung Fire and other companies are expected to record dividend income in the fourth quarter, when the Samsung Electronics board decides on the payout.

The dividend decision and market movements will help shape Samsung Fire's next results.

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