Marine insurance premiums down

The 2016 turnover of marine insurance has reported a 14.26% decrease at 607. 99 billion KRW (505 million USD) in South Korea. Samsung Fire & Marine, the country’s biggest player, reported a 38.65% decline in its marine direct premiums which were posted at 98.89 billion KRW (82 million USD) for the same period in question.

This decrease in underwritings is accounted for by the global economic slowdown and the decline of business for ship yards.

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