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Samsung Life Insurance

January 23rd, 2018 No 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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Life Insurance Corporation of India

November 10th, 2016 No comments

LIFE INSURANCE CORPORATION OF INDIA


By : Aries Kurniawan

History of the company Life Insurance Corporation of India

life insurance corporation of india login

life insurance corporation of india login

The Oriental Insurance Company , the first company in India that offers life insurance , was established in Calcutta in 1818 by Bipin Behari Dasgupta and others. Its main target is the European market based in India , and India heftier premium charged . The Bombay Mutual Life Assurance Society , which was formed in 1870 , was the first native insurance provider . The following details the history of any other insurance company that was formed in pre – independence era :

• In 1896 : Bharat Insurance Company
• In 1906 : United India
• In 1906 : The National Indian
• In 1906 : National Insurance
• In 1906 : Cooperative Assurance
• In 1907 : Hindustan Cooperative
• In 1907 : Indian Mercantile
• In 1907 : General Warranty
• In 1907 : Swadeshi Life ( later Bombay Life )
• In 1986 : Sahyadri Insurance ( Merged with LIC , 1986)

In the 150 first year was marked primarily by the turbulent economic conditions . It was witnessed, the First War of Indian Independence , the impact of World War I and World War II on the economy of India , and between them the period of world economic crisis triggered by the vast major depression . The 20th century also saw high struggle for Indian independence . Aggregate impact of these events led to a high level and liquidation of life insurance companies in India affect the faith of the public in utility for the protection of life .

In 1955 , Amol Barate parliament raised the issue of insurance fraud by owners of private insurance agencies . In a subsequent investigation , one of the richest businessmen in India , Sachin Devkekar , owner of the Times of India newspaper , was sent to prison for two years .

Finally , the Parliament of India passed the Life Insurance of India Act June 19, 1956 created the Life Insurance Corporation of India , which began operations in September of that year . It consolidates the life insurance business of 245 private life insurers and other entities that offer life insurance services , consists of 154 life insurance companies , 16 foreign companies and 75 provident company . The nationalization of life insurance business in India is the result of the Industrial Policy Resolution of 1956, which has created a policy framework for extending state control over at least seventeen sectors of the economy , including life insurance .

From its formation , the Institute of Life Insurance Corporation of India , which commanded a monopoly asking and selling life insurance in India , created a huge surplus , and in 2006 contributed approximately 7 % of India’s GDP .

The Corporation , which started its business with around 300 offices , 5.7 million policies and a corpus of INR 45.9 crores ( U.S. $ 92 million in 1959 values around INR5 exchange for U.S. $ 1 ) , has grown to 25,000 serving approximately 350 million policies and corpus more INR800000 crore ( U.S. $ 120 billion ) at the end of the 20th century .

In August 2000, the Government of India initiated a program to liberalize the insurance sector and opening it to the private sector . Ironically , LIC emerged as beneficiaries of this process with a strong performance , albeit at a substantially higher base than the private sector .

In 2013 Premium First compound annual growth rate ( CAGR ) is 24.53 % while the CAGR of the total life premium is matching the growth of the life insurance industry and the general economic growth exceeds 19.28 % .

Life Insurance Corporation of India is a group of Indian state-owned insurance and investment company headquartered in Mumbai . It is the largest insurance company in India with an estimated asset value INR1560481.84 crore ( U.S. $ 240 billion ) . In 2013 the total life fund Rs.1433103.14 crore with a total value of 367.82 lakh policies sold that year .

The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act which nationalized the private insurance industry in India . More than 245 insurance companies and provident societies are combined to create the Life Insurance Corporation of SOES .

In 2011 , the Institute of Life Insurance Corporation of India has 8 zonal offices and 118 offices division , about 3,500 including 2,048 branch offices , customer zones 54 , 25 metro – regional services hub and satellite offices located in various cities of India . It also has a network of 1,337,064 individual agents , 242 Corporate Agents , 79 Referral Agents , 98 Brokers and 42 Banks to require life insurance business from the public .

LIC is the Sanskrit slogan ” yogakshemam vahamyaham ” which translates in English as ” well-being is our responsibility ” . It is derived from the ancient Hindu text , the Bhagavad Gita Chapter 9 , verse 22 slogans can be seen in the logo , and written in a script Devanagiri .

As a responsible person , one must ensure that the happiness of the family can be ensured and secured from any unforeseen events or expenses . It is for this reason that one needs a plan that offers savings , growth and protection .

LIC life insurance policy is more than the tax savings . LIC Life Insurance is a powerful tool to cover the risks that could affect family income , in the absence of a living / income spouse . LIC Life Insurance Policy also works as a saving instrument which can assist individuals in planning for their children education , child marriage , pension , retirement benefits and other financial goals that have been set . For those of you who are interested to add to the happiness of the family and want to know more details of this insurance company , you can contact at :

Life Insurance Corporation of India
Yogakshema
West Wing
4th floor
Jeevan Bima Marg
Mumbai , 400021
India
Established in 1956
Phone : 91 22 2202 2151
Fax : 91 22 2202 8943

 

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China Life Insurance

October 28th, 2016 No comments

CHINA LIFE INSURANCE


By : Aries Kurniawan

china life insurance company

china life insurance company

China Life Insurance Company Limited is an insurance company located in Beijing China. The company operates businesses through individual insurance business , group insurance business and short term insurance business , which provides individual life insurance , group life insurance , accident insurance and health insurance products and services , such as financing insurance , children’s insurance , endowment insurance and protection insurance , annuities , especially in the domestic market .

China Life Insurance (Group) Company and its subsidiaries referred to as China Life, this is the largest commercial insurance group in Mainland China, and the only state-owned insurance group with assets exceeding 1 billion yuan RMB. It is also one of the largest institutional investors in the capital market of China.

This insurance company is one of the largest companies in the State of China , while the beginning of the company’s history began this , we will describe as follows :

In 1929 : Tai Ping Insurance Company was established in Shanghai .
In 1931: China Insurance Company was established in Shanghai.
In 1949: The Chinese government take over all insurance operations in the mainland, established the People’s Insurance Company of China (PICC).
In 1959: Insurance Operations abolished, except (marine and aviation) foreign insurance needs, and PICC into the department’s central bank.
In 1979: After the launch of economic reforms, PICC started publishing non-life insurance policies.
In 1980: A joint venture was formed with AIG.
In 1982: PICC began offering life insurance policies.
In 1988: The Chinese government first licensed insurance companies compete.
In 1996: PICC was restructured as PICC Group, a holding company for his life, reinsurance, and property operations.
In 1999: PICC Group was dissolved and replaced by the four state-owned companies, including China Life Insurance.
In 2003: China Life went public on the Hong Kong Stock Exchange and the New York Stock Exchange in the largest initial public offering that year.
In 2004: China Life announced its intention to diversify asset management, brokerage services, and banking services in the near future.

China Life Insurance Company Limited is the largest life insurance company in the People’s Republic of China. The company offers individual life insurance, group life, accident, and health insurance policies. China Life commanded 45 percent of the market, and holds the number one position in 29 of the 31 countries the only major markets of Shanghai and Beijing. China Life is the only life insurance company in China with a nationwide business license, which has been allowed to develop a network of more than 8,000 field offices, 4,800 branches, 3,000 customer service offices and 87,000 sales outlets in locations such as banks, post offices, hotels, airports, travel agents, and the like. Company’s nearly 67,000 employees are equipped with a network of 650,000 independent sales agents exclusively. The company also operates a “one – stop” 24- hour telephone sales and service hotline. Together, China Life serves more than 100 million long-term policyholders and more than 150 million of short -term policy holders, generating nearly CNY 51 billion ($ 6.2 billion) net premiums and the cost of the policy in 2003. The group’s total sales surpassed $ 9500000000 year. China Life listed on the Stock Exchange of Hong Kong and New York Stock Exchange at the end of 2003, raising $ 3.5 billion in the biggest initial public offering that year (IPO). China has indicated its intention to expand into other financial areas, such as asset management, brokerage, and banking.

In order to make the IPO more attractive, older people entitled to control the transfer of the policy only for long-term and medium-term published on June 10, 1999, to China Life. This step is done to avoid China Life from a large number of load loss policies issued on a return rate as high as 6.5 percent, which is on June 10, 1999, the date associated with an emergency decision by the CIRC, which lowers the rate of return of only 2.5 percent.

To attract investors, China Life launched its IPO on the Hong Kong Stock Exchange and the New York Stock Exchange in December 2003. IPO finally a huge success, raising $ 3500000000 and can be the biggest in the world for 2003. Retail bid has been oversubscribed by 172 cal, and the total order has reached $ 80 billion.

The success of China Life IPO is encouraging starting eyeing expansion into new markets in 2004. Parent company registered in China Life, announced its intention to diversify the insurance business, in order to include and develop business property insurance agents, brokers and insurance, as well as adding other financial services. China Life itself announced its intention to diversify into new services, such as asset management, brokerage services, and banking in the near future. Meanwhile, China Life has emerged as a dominant player in terms of life insurance, and life insurance market is expected to become the fastest growing and the largest in the world.

Because of the commitment to grow into a world class life insurance companies with strong capitalization, advanced corporate governance, which is a well-established management system, strict internal control, leading technology, first-class team, superior service, an outstanding brand and harmonious development mode. For nine consecutive years China Life entered the Fortune Global 500, and ratings are moving forward from 290 in 2003 to 113 in 2011 and registered for the fifth consecutive year at the World Brand 500, gain 264 ranking in 2011. Having a dual – listing on the New York and Hong Kong in December 2003, China Life Insurance Company Limited back to China A share market in January 2007 and has become the first insurance company listed on the Shanghai Stock Exchange. It is also the first triple insurance company listed on the New York, Hong Kong and Shanghai and has become the largest public life insurance companies in the world in terms of market capitalization. For those of you who are interested to enroll in the company’s life insurance or want to know more details about the company, you can contact at:

China Life Insurance Company Ltd.
No. 16, China Life Insurance Building, Financial Street, Xicheng District Beijing 100033 China JSE
Phone: +86 (106) 363-2938
Fax: +86 (106) 657-5112

 

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