Samsung Fire & Marine Insurance Company Limited http://www.alacrastore.com/company-snapshot/Samsung_Fire_Marine_Insurance_Company_Limited-515347 Monday, October 13, 2008 2:15:12 AM 515347 Samsung Fire & Marine Insurance Company Limited en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/648053spcred/648053normThe latest Full Report from S&Pglobal5/13/2008 11:22:01 PM400Full Report648053KoreaProperty & Casualty InsuranceEmerging MarketsAsiaGlobal IssuersInsuranceFull ReportStrong market position Very strong capitalization Strong risk management Market deregulation Concentration of equity investments in affiliates Volatile and low profitability in auto insurance line The rating on Samsung Fire&Marine Insurance Co. Ltd. (Samsung Fire; A+/Stable/--) reflects the company's strong market position, very strong capitalization, and strong risk management. Offsetting factors include market deregulation, concentration of equity investments, and volatility and low margins in auto insurance. Samsung Fire is the leading insurance company in the Korean non-life insurance industry. The company has a commanding share of the market, taking advantage of the largest insurance sales network in Korea, and its good relationship with the Samsung group. The company's share of gross premiums written was 30.2% in 2006, whichKOR40301040 403010 4030 40Samsung Fire&Marine Insurance Co. Ltd.314353ASIAEMERGING0081@KSFULLGLOBISSINSCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/648054spcred/648054normThe latest Summary from S&Pglobal5/13/2008 11:22:01 PM175Summary648054KoreaProperty & Casualty InsuranceEmerging MarketsAsiaGlobal IssuersInsuranceSummaryThe rating on Samsung Fire&Marine Insurance Co. Ltd. (Samsung Fire; A+/Stable/--) reflects the company's strong market position, very strong capitalization, and strong risk management. Offsetting factors include market deregulation, concentration of equity investments, and volatility and low margins in auto insurance. Samsung Fire is the leading insurance company in the Korean non-life insurance industry. The company has a commanding share of the market, taking advantage of the largest insurance sales network in Korea, and its good relationship with the Samsung group. The company's share of gross premiums written was 30.2% in 2006, which is about 15 percentage points higher than that of domestic second tier non-life insurance companies. Samsung Fire's capitalization is assessed as very strong relative toKOR40301040 403010 4030 40Samsung Fire&Marine Insurance Co. Ltd.314353ASIAEMERGING0081@KSSUMMARYGLOBISSINSCredit & Investment ResearchS&P Credit Research