삼성화재, 고수익 전략으로 다진 1위…CSM배수도 14.2배 사수

Samsung Fire Insurance improved its CSM multiple from 11.9x to 14.2x by shifting portfolio toward higher-margin products like MyFit, despite a 24.9% decline in new contract volume. This demonstrates a strategic pivot from revenue volume to earnings quality, maintaining competitive advantages amid industry-wide margin compression. The company's approach of sacrificing short-term growth for long-term profitability sets a differentiating model in an increasingly competitive insurance market.