# Samsung Fire & Marine Insurance (000810.KO) Canonical: https://gigainvestors.com/s/000810.KO Analysis as of: 2026-10-16T07:34:51.831Z. Financial observations: FY2016–FY2025. Listing currency: KRW. Reporting currency: KRW. ## Verdict Not a wonderful business Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no. Share price: KRW 580,000.00 per share; close as of 2026-10-15. Estimated value: low KRW 420,530.61 per share, central KRW 462,583.67 per share, high KRW 513,981.86 per share. Buy at or below the central value KRW 462,583.67 per share. Valuation as of 2026-10-16T07:34:51.831Z; scenarios are not confidence intervals. Expected annual return: 8.0% at the stated quote. About 8.0% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; KR 10-year bond 4.2% + 4 points). ## Checklist ### understandable: pass - Financial history: 10 years - Profitable years in the last ten: 10 - Required profitable years: 8 - Return on common equity variation (informational): 0.31× Chart: Net income; fiscal year observations. - FY2016: KRW 858B - FY2017: KRW 1.05T - FY2018: KRW 1.07T - FY2019: KRW 643B - FY2020: KRW 755B - FY2021: KRW 1.12T - FY2022: KRW 1.28T - FY2023: KRW 1.82T - FY2024: KRW 2.07T - FY2025: KRW 2.02T ### moat: fail - Common book per share - Parent-total proxy for preferred equity and common earnings - Underwriting economics assessed through return on tangible common equity - median return on common equity below threshold - Bank / P&C ROTE, median of available years: 9.1% - Required median return: 12.0% - Return uses tangible common equity: Yes - Bank ROTE, second-lowest year: 4.7% - Years with reported combined ratio: 0 Chart: Return on tangible common equity; fiscal year observations. - FY2016: 7.9% - FY2017: 9.3% - FY2018: 9.0% - FY2019: 4.6% - FY2020: 4.7% - FY2021: 7.4% - FY2022: 11.9% - FY2023: 11.5% - FY2024: 13.5% - FY2025: 9.6% ### economics: pass - Common book per share - Parent-total proxy for preferred equity and common earnings - Book value per share + reinvested dividends, annualized return: 11.2% - Book return interval: 9 years - Starting book value per share: KRW 259K - Ending book value per share: KRW 500K Chart: Annual book + dividend return; fiscal year observations. - FY2017: 41.7% - FY2018: -16.1% - FY2019: 27.7% - FY2020: 16.2% - FY2021: -8.7% - FY2022: -25.5% - FY2023: 51.6% - FY2024: 0.8% - FY2025: 41.7% ### management: pass - Common book per share - Parent-total proxy for preferred equity and common earnings - Diluted shares, 10-year annual growth: 0.0% - Diluted shares, 5-year annual growth: 1.3% - Share growth excluding flagged crisis recapitalisations: 0.0% - Five-year share growth excluding flagged crisis recapitalisations: 1.3% - Flagged crisis recapitalisations: 0 - Book created / earnings retained after dividends and buybacks: 1.35× - Book value created per share: KRW 242K - Earnings retained per share after dividends and buybacks: KRW 179K Chart: Shares (first year = 100); fiscal year observations. - FY2016: 100 - FY2017: 78 - FY2018: 100 - FY2019: 94 - FY2020: 94 - FY2021: 100 - FY2022: 100 - FY2023: 100 - FY2024: 100 - FY2025: 100 ### accounting: pass - Financial accounting warning count: 0 - Known restatement years: 0 ## Holders ## Price story The price assumes profits grow 2% a year forever · net income -2.7% Story as of 2026-10-16T10:00:02.845Z; price observation 2026-10-15. The price assumes profits grow 2% a year forever ### Net income · FY2025 net income -2.7%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16. - FY2016: KRW 858B - FY2017: KRW 1.05T - FY2018: KRW 1.07T - FY2019: KRW 643B - FY2020: KRW 755B - FY2021: KRW 1.12T - FY2022: KRW 1.28T - FY2023: KRW 1.82T - FY2024: KRW 2.07T - FY2025: KRW 2.02T ## Owner memo Memo as of 2026-10-16T08:06:05.509Z. ### How it makes money Operates in insurance property & casualty; annual sales are KRW 20.7 trillion. - Source: https://eodhd.com/api/fundamentals/000810.KO.json#2025-12-31 (filed 2026-10-16T07:34:51.831Z); FY2025: revenue 20676472874100. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 000810.KO: Samsung Fire & Marine Insurance Co., Ltd., together with its subsidiaries, provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom. The company offers automobile insurance, long-term damage insurance, personal pensions, and retirement pensions, as well as claim adjustment, agency, and insurance consulting services. It also provides general insurance that covers risks related to business management, personal property, and body, including fire, marine, technology, liability, injury, and disease. The company was founded in 1952 and is headquartered in Seoul, South Korea. ### Why customers stay It earns 9.1% on shareholders’ money, excluding intangible assets. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:51.831Z); 10-year return on tangible equity observations [[2016,0.07908657796752663],[2017,0.09287703771871629],[2018,0.09004060505818338],[2019,0.04639882013555532],[2020,0.047368706300269695],[2021,0.07362331255550651],[2022,0.11889179124543982],[2023,0.11473541551625956],[2024,0.1353504211258555],[2025,0.09612548787787638]]; median 0.09145882138844984. ROIC follows the displayed moat series; financial companies use return on tangible equity. ### Where the cash goes Paid dividends in 10 of 10 years. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:51.831Z); Dividend observations: [[2016,222271650630],[2017,260062060000],[2018,425945093160],[2019,489946171280],[2020,362335090610],[2021,374983452610],[2022,511076667110],[2023,586644726900],[2024,681094795520],[2025,808386105880]]. Zero only counted when supported by a complete cash-flow statement. ### Are managers owners Insiders own 3.7% of the company. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 000810.KO SharesStats.PercentInsiders = 3.733 percentage points; cache date 2026-10-16. ### What the price says The price assumes profits grow 2% a year forever. - Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:34:51.831Z); Price 580000; FX 1; original perpetual distributable cash 46258.36700124409; discount 0.1; growth 0.020244194825441222. Same book-value model and 4× ceiling; no ten-year operating fade applies. Closing-price date 2026-10-15. ## Monthly share-price history (KRW per share) - 2016-10: KRW 291,500.00 per share - 2016-11: KRW 293,000.00 per share - 2016-12: KRW 268,500.00 per share - 2017-01: KRW 269,000.00 per share - 2017-02: KRW 255,000.00 per share - 2017-03: KRW 268,000.00 per share - 2017-04: KRW 268,000.00 per share - 2017-05: KRW 292,500.00 per share - 2017-06: KRW 281,500.00 per share - 2017-07: KRW 292,000.00 per share - 2017-08: KRW 276,500.00 per share - 2017-09: KRW 280,000.00 per share - 2017-10: KRW 273,000.00 per share - 2017-11: KRW 260,000.00 per share - 2017-12: KRW 267,000.00 per share - 2018-01: KRW 289,000.00 per share - 2018-02: KRW 289,000.00 per share - 2018-03: KRW 270,500.00 per share - 2018-04: KRW 267,500.00 per share - 2018-05: KRW 250,500.00 per share - 2018-06: KRW 264,000.00 per share - 2018-07: KRW 273,000.00 per share - 2018-08: KRW 265,000.00 per share - 2018-09: KRW 284,000.00 per share - 2018-10: KRW 278,500.00 per share - 2018-11: KRW 272,500.00 per share - 2018-12: KRW 269,000.00 per share - 2019-01: KRW 273,000.00 per share - 2019-02: KRW 301,500.00 per share - 2019-03: KRW 301,000.00 per share - 2019-04: KRW 304,000.00 per share - 2019-05: KRW 271,000.00 per share - 2019-06: KRW 268,000.00 per share - 2019-07: KRW 263,000.00 per share - 2019-08: KRW 229,000.00 per share - 2019-09: KRW 223,000.00 per share - 2019-10: KRW 216,500.00 per share - 2019-11: KRW 232,500.00 per share - 2019-12: KRW 243,500.00 per share - 2020-01: KRW 211,000.00 per share - 2020-02: KRW 198,000.00 per share - 2020-03: KRW 154,000.00 per share - 2020-04: KRW 190,500.00 per share - 2020-05: KRW 182,500.00 per share - 2020-06: KRW 176,000.00 per share - 2020-07: KRW 171,500.00 per share - 2020-08: KRW 187,000.00 per share - 2020-09: KRW 182,000.00 per share - 2020-10: KRW 179,000.00 per share - 2020-11: KRW 188,000.00 per share - 2020-12: KRW 187,500.00 per share - 2021-01: KRW 168,000.00 per share - 2021-02: KRW 173,000.00 per share - 2021-03: KRW 190,000.00 per share - 2021-04: KRW 198,000.00 per share - 2021-05: KRW 211,500.00 per share - 2021-06: KRW 220,500.00 per share - 2021-07: KRW 214,500.00 per share - 2021-08: KRW 226,000.00 per share - 2021-09: KRW 235,000.00 per share - 2021-10: KRW 231,000.00 per share - 2021-11: KRW 202,000.00 per share - 2021-12: KRW 202,000.00 per share - 2022-01: KRW 200,500.00 per share - 2022-02: KRW 190,500.00 per share - 2022-03: KRW 219,000.00 per share - 2022-04: KRW 210,000.00 per share - 2022-05: KRW 199,000.00 per share - 2022-06: KRW 201,000.00 per share - 2022-07: KRW 197,500.00 per share - 2022-08: KRW 195,000.00 per share - 2022-09: KRW 184,000.00 per share - 2022-10: KRW 200,000.00 per share - 2022-11: KRW 205,500.00 per share - 2022-12: KRW 200,000.00 per share - 2023-01: KRW 203,000.00 per share - 2023-02: KRW 214,500.00 per share - 2023-03: KRW 206,000.00 per share - 2023-04: KRW 225,000.00 per share - 2023-05: KRW 225,500.00 per share - 2023-06: KRW 230,000.00 per share - 2023-07: KRW 244,000.00 per share - 2023-08: KRW 246,500.00 per share - 2023-09: KRW 260,500.00 per share - 2023-10: KRW 258,500.00 per share - 2023-11: KRW 260,000.00 per share - 2023-12: KRW 263,000.00 per share - 2024-01: KRW 264,000.00 per share - 2024-02: KRW 298,000.00 per share - 2024-03: KRW 306,000.00 per share - 2024-04: KRW 310,000.00 per share - 2024-05: KRW 348,500.00 per share - 2024-06: KRW 389,000.00 per share - 2024-07: KRW 372,500.00 per share - 2024-08: KRW 346,500.00 per share - 2024-09: KRW 344,500.00 per share - 2024-10: KRW 336,500.00 per share - 2024-11: KRW 392,500.00 per share - 2024-12: KRW 358,500.00 per share - 2025-01: KRW 381,500.00 per share - 2025-02: KRW 382,500.00 per share - 2025-03: KRW 357,500.00 per share - 2025-04: KRW 374,500.00 per share - 2025-05: KRW 404,500.00 per share - 2025-06: KRW 434,000.00 per share - 2025-07: KRW 440,500.00 per share - 2025-08: KRW 444,000.00 per share - 2025-09: KRW 451,500.00 per share - 2025-10: KRW 441,500.00 per share - 2025-11: KRW 481,500.00 per share - 2025-12: KRW 497,000.00 per share - 2026-01: KRW 501,000.00 per share - 2026-02: KRW 530,000.00 per share - 2026-03: KRW 440,500.00 per share - 2026-04: KRW 461,000.00 per share - 2026-05: KRW 569,000.00 per share - 2026-06: KRW 618,000.00 per share - 2026-07: KRW 632,000.00 per share - 2026-08: KRW 665,000.00 per share - 2026-09: KRW 633,000.00 per share - 2026-10: KRW 612,000.00 per share ## Annual estimated value (KRW per share) - FY2017: low KRW 249,250.77 per share, central KRW 311,563.46 per share, high KRW 415,417.95 per share - FY2018: low KRW 169,531.86 per share, central KRW 211,914.82 per share, high KRW 282,553.10 per share - FY2019: low KRW 195,414.83 per share, central KRW 244,268.53 per share, high KRW 325,691.38 per share - FY2020: low KRW 204,662.26 per share, central KRW 255,827.83 per share, high KRW 341,103.77 per share - FY2021: low KRW 274,406.07 per share, central KRW 301,846.68 per share, high KRW 335,385.20 per share - FY2022: low KRW 193,829.55 per share, central KRW 213,212.50 per share, high KRW 236,902.78 per share - FY2023: low KRW 285,318.98 per share, central KRW 313,850.88 per share, high KRW 348,723.20 per share - FY2024: low KRW 287,487.15 per share, central KRW 316,235.86 per share, high KRW 351,373.18 per share - FY2025: low KRW 394,002.53 per share, central KRW 433,402.78 per share, high KRW 481,558.65 per share Historical values use today's bond yield for every fiscal year Historical values use today's FX rate into trading currency for every fiscal year Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates Prior published observations retained from 2026-10-15T06:40:37.897Z where newer inputs omit a numeric field or fiscal period. ## Sources Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights. ## Reported holder observations