By Kwanwoo Jun

Samsung Fire & Marine Insurance Co.'s second-quarter net profit climbed 38% thanks to lower loss ratios, as the Covid-19 pandemic led to fewer hospital visits and insurance claims.

Net profit for the quarter ended June 30 was 269.32 billion won ($227.4 million) compared with KRW195.26 billion in the same quarter a year earlier, the South Korean insurer said Tuesday. That beat a FactSet consensus forecast for net profit of KRW240.88 billion.

Revenue rose 3.5% to KRW4.905 trillion, while operating profit gained 37% to KRW387.87 billion.

The results were based on standalone financial statements rather than consolidated statements. 



  Write to Kwanwoo Jun at kwanwoo.jun@wsj.com