By Kwanwoo Jun
Samsung Fire & Marine Insurance Co.'s third-quarter net profit rose 22%, thanks to lower loss ratios.
Net profit for the quarter ended Sept. 30 was 195.56 billion won ($176.5 million) compared with KRW159.78 billion a year earlier, the South Korean insurer said Monday. That was above a FactSet consensus forecast for a net profit of KRW179.00 billion.
Revenue rose 3.6% to KRW4.953 trillion, while operating profit gained 17% to KRW286.20 billion.
The results were based on standalone financial statements rather than consolidated statements.
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(END) Dow Jones Newswires