Q1 2022 Samsung Fire & Marine Insurance Co Ltd Earnings Call Transcript
[Interpreted] Good morning. I am Kim (inaudible), Head of the IR team. Thank you for joining Samsung Fire & Marine Insurance First quarter 2022 Earnings Conference Call. We will begin with our CFO, Hong Seong-Woo's presentation on key earnings highlights and future business strategy, followed by Q&A, during which answers will be provided by the management team. The whole session will last around 1 hour. And now I invite our CFO, Hong Seong-Woo.
[Interpreted] Good morning. This is CFO, Hong Seong-Woo, allow me to present on the first quarter 2022 earnings results of the company. Q1 pretax profit was KRW 560.2 billion with net profit at KRW 409.1 billion, down 5.2% year-over-year, but excluding the one-off profit in Q1 of last year, net profit recorded a growth of more than 28%. First, long-term business saw year-over-year decline in new sales following constrained sales activities on the back of the sudden spread of the COVID pandemic. While
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