Company Announcements

Renewal of Property & Casualty Insurance Policy

Source: RNS
RNS Number : 8948G
Samsung Electronics Co. Ld
29 July 2021
 

Renewal of Property & Casualty Insurance Policy

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) on July 29, 2021 

announced that its Board of Directors has approved the renewal of the property and casualty

insurance policy (package policy) from Samsung Fire & Marine Insurance Co., Ltd.

 

▫ Details

 

1.   Effective date: September 1, 2021

 

2.   Insurance premium: KRW 91.21 billion

 

3.   Coverage period: September 1, 2021-August 31, 2022 (12 months)

 

4.   Purpose: Purchase a package insurance policy to insure against the risks of property

      damage and the suspension of management activities caused by fires, explosions,

      natural disasters, etc., at Samsung Electronics' business sites located in Korea.

 

5.   Other Information

-     This insurance covers damages or losses caused by the insured risks.

-     Number of Independent Directors present at the BOD meeting: 6 (100%)

-     Attendance of Audit Committee: Y

 

This public disclosure is in accordance with the Korean Fair Trade Act, which

 mandates that a purchaser of an insurance policy disclose the purchase of the policy

 in the event the transaction is worth more than KRW 5 billion and the insurance

 company involved is the purchaser's financial affiliate.

 

 

 

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