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Samsung Life Insurance

January 23rd, 2018 Leave a comment Go to comments

SAMSUNG LIFE INSURANCE


 

By : Aries Kurniawan

Information about Samsung Life Insurance

samsung life insurance

Samsung Life Insurance is a South Korean multinational insurance company which headquartered in Seoul, South Korea, and a subsidiary of the Samsung Group. Samsung Life is the largest insurance company in South Korea and the Fortune Global 500.

The main products of Samsung Life are life, health and annuities. Samsung Life is a private company from its foundation in 1957 to go public in May of 2010. Was the largest IPO in the history of South Korea’s Samsung Life and make one of the most valuable companies in the country, measured by market capitalization. Its headquarters is located in Namdaemun, a historic gate located in downtown Seoul.

Established in 1957, the company is rapidly growing and achieving a leading market position after 18 months of operation. Since then, Samsung Life Insurance has maintained its market leadership in the industry through product innovation, marketing, and distribution. In particular, growth accelerated after the company was founded by the Samsung Group in 1963.

In 1986, the company opened a representative office in New York and Tokyo. It also expanded the company’s operations abroad through cooperation in Thailand in 1997 and China in 2005. The company is the first life insurance company in Korea to reach KRW 100 trillion won of assets in 2006. On May 12, 2010, Samsung Life Insurance to go public and go for ₩ 110,000 shares in one of the biggest initial offerings and a record for the state, raising $ 4.4 billion.

Samsung Life Insurance Co. , Ltd. is a major insurance services offered by the company include life insurance , health insurance , annuities , loans , pensions Corporations , and the Trust Fund . Samsung Life Insurance Co. , Ltd. formerly known as the Life Insurance DongBang and changed its name to Samsung Life Insurance Co. , Ltd. in 1989 . Samsung Life Insurance Co., Ltd. was founded in 1957 and is based in Seoul, South Korea and now became an affiliate of Samsung Group in July 1963.

Samsung Life Insurance Co., Ltd. is a Korea -based company that specializes in life insurance business. Company’s business scope includes insurance, credit, corporate pension, and trust funds. Insurance products include life insurance, guarantee insurance, pension insurance, insurance savings and other financial plans for individual customers and corporate pension system, private health insurance and selective corporate welfare system for business customers. Mortgage loan products include medium-term loans, long and direct loans to investors such as shareholders and bondholders. Business through investment funds, insurance companies providing asset management services. Through the company’s retirement business, it provides retirement programs and related consulting services. Through the trust business, he developed a trust management product, financial planning services for asset management and others. In addition, Samsung Life sold by way of both individual and group life insurance through an extensive branch network and more than 37,000 sales agents. Reach outside of Korea, the company has operations in China, India, Japan, Thailand, United Kingdom, and the United States. Non-life insurance, property or the victim offered by sister company Samsung Fire & Marine.

Since then, Samsung Life Insurance was established that in 1957, the company has grown to become the largest and most successful as a life insurance company and a market leader in the country. Samsung has played a vital role in the growth and development of the Korean economy and improve the financial well-being of millions of Koreans.

In 2009, Samsung Life strengthens its top position in the Korean market. It was recorded 69600000000000 KRW (USD 56.5 billion) worth of new policies and KRW 468.3 trillion (USD 380.1 billion) of -force policy. The number of policies increased to 20,839,682.

Samsung also reached KRW 906 billion (USD 735.5 million) and net profit KRW 133 trillion (USD 108 billion) in total assets. Samsung Life set new standards in Korea to be a non – bank financial institutions that hold the first KRW 100 trillion in total assets and is now aiming to be one of three life insurance companies in Asia.

Samsung Life is often listed among the Fortune Global 500 in 2010, and was ranked in Fortune magazine as the world’s largest 316 companies and leading financial companies in Korea. The main objective of Samsung is ranked among the most prominent providers of financial services in the world. At the same time, Samsung Life remains committed to sharing success by continuing to support community services, arts and cultural activities, sports and social welfare programs.

Samsung is the first insurance company in Korea which received ISO 9001 and 9002 are based on the quality and reliability of service. Samsung Life is also the first company in Korea to build a website to provide customers with information about products, services, and is a leader in the use of e -business infrastructure to improve customer service. In addition, Samsung received the BS7799 certification, an international information security certificate awarded by the British Standards Institution.

Samsung offers individual, group life and ensure product about a third of the Korean population through a network of approximately 44,045 sales agents and more than 6,474 employees. Samsung is also a leading underwriter of life insurance plans and severance groups in Korea. Samsung has been a member of the International Group Program since 1980. For those of you who are interested you can contact directly at:

Samsung Life Insurance Co. Ltd.
55 , Sejong – Daero , Jung – Gu
SEOUL 100 716
Phone : +822.15883114
Fax : +822.7518100

 

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