S.Korean insurers rise as firms discuss higher fees

Samsung Fire & Marine Insurance

06/08/2018 06:45

** Shares of South Korean insurance companies rise on Monday
on optimism over the possibility of a hike in insurance fees 
    ** Shares of DB Insurance  005830.KS  gain 5.9 pct, while
Hyundai Marine & Fire Insurance  001450.KS  and Samsung Fire &
Marine Insurance  000810.KS  firm 5.4 pct and 5 pct,
respectively. Lotte Insurance  000400.KS  rises 4.8 pct and
Meritz Fire & Marine Insurance  000060.KS  climbs 2.7 pct
    ** Insurance companies are considering raising auto
insurance fees by more than 3 pct to 4 pct as early as October
due to an increase in car accidents from an intense heat wave
this summer, domestic media have reported. A hike in fees would
be the first in the past two years
    ** Temperatures hit 38.5 degree Celsius in Seoul on
Wednesday last week, the highest temperature in 111 years, or 
since data has been available - according to the Korea
Meteorological Administration
    ** The broader KOSPI market  .KS11  is trading around flat
as of 0530 GMT

 ((Reuters Messaging:
hayoung.choi.thomsonreuters.com@reuters.net))