IBK Investment Securities "expect Samsung F & M, stable earnings vision."

[Korea goyounghun financial newspaper reporter] was down target price to IBK Investment & Securities expects stable earnings posted for 16 days Samsung Fire doendamyeo BUY 34 million.

2016 net profit of Samsung Fire & Marine Insurance had increased by 7.4% year-on-year to 840.9 billion won, IBK Investment & Securities estimates were below 12.9%.

IBK Investment & Bob, the researchers reason "why you missed the estimates are US reports of damages (IBNR) to earn such due to the increase in one-off expenses and general insurance loss ratio rise," said "year-on-year profit increase, although general insurance loss ratio is rising, but , full and long-term loss ratio in the auto loss ratio dropped 0.8 percentage points compared to the previous year is due to a 84.0% improvement pas, "he said.

Following the business rate has risen 0.4 percentage points to 19.2% compared to the previous year, retirement honor was diagnosed with usual level of about 135 million.

Researcher Kim explained, "because the expected 2017 net profit to loss ratio of 19.2% downward adjustment and interest rate assumptions adjusted target price is down," he said "there is upside share price over the past 15 days".

He added, "This stable earnings are expected to economies of scale and effective cost management," said "the share of the auto insurance reductions expected and it has currently the highest solvency of the industry (RBC) confessed adequacy is positive," said forecasts.



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