Aiming at Asia's Top 5
Life Insurer
- Samsung Life celebrates 48th founding anniversary with assets expanding
4,200 times at 64 tln won

Samsung Life Insurance Co. celebrated its 48th founding anniversary on May 5 with a variety of activity to mark the occasion.
At the official ceremony held at the company's International Conference Hall May 4 President Bae Jung-choong vowed that the company should have a customer service different from others. He thanked officers and staff, consultants and customers on the occasion of the founding anniversary.
"The most important issue is we must have a true different customer service as the most critical value is customers' trust in us," the Samsung Life CEO said.
Samsung Life has grown a whopping 4,200 times since the establishment in 1957, is now planning to lay a framework for on-going development and to join the ranks of top 5 total financial service firms in Asia. In the latest low interest market, the firm will make especially wise investments and make a leap forward by ensuring stable risk management and constant profit and revenue generation.
Their effective and scientific organizational system supports the Samsung Life insurance product sales channel that is entrusted with managing 64 trillion won of assets and 40 percent of their presence in the market. Also their organization is suited for effective risk management, an emerging issue in recent corporate management, and CRM and MS. Besides the sales channel, CRM, and MS, Samsung Life organization consists of an asset management function that guarantees highest investment return and effective risk management, an overseas function designed for offshore expansion and profit generation from foreign businesses, and a finance research center, a financial think tank.
Samsung Life believes "customer satisfaction" is founded on their members' contentment and customer success which results from HR and reward system that fully reflect an individual's performance. Together, with their valuable customers Samsung Life as a professional organization armed with appropriate risk management , global asset operation and advanced IT system will emerge as a worldwide comprehensive financial service provider.
Samsung Life has been the leader of not only the life insurance industry in Korea but the economy as a whole since its foundation.
During half century long company history, Samsung Life has established the foundation of modern life insurance industry and contributed to the development and growth of the national economy.
In 2002, Fortune 500 ranked Samsung Life in 20th place in terms of sales revenue in the life insurance industry worldwide. Their market dominance is far beyond challengeable reach, almost half the market in both premium and asset(40 percent of premium income and 45 percent in asset volume) and their 70 million policyholders represents 1/5th of Korea's total population.
At both home and abroad, they operate a vast network of 80 branches, 1,030 offices, 1,500 agencies, highly trained professional financial planners and Life-Tech organizations. At 7 locations in 5 nations, they run investment organizations, joint venture, joint life insurance business and regional branches.
In asset management, they vigorously pursue their "Basic Investment Philosophy" focus on SAA(strategic asset allocation) in the long term create value, and maintain strict risk management in very investment. At the same time, they are strategically sculpting their brand image as the "Long-Term global Asset Manager", maximizing their insurance asset management capabilities and professionalism.
The newly presented "Vision of 21st Century" came from the urgency to change to survive. The vision serves as the ideological foothold that reflects their belief of completing the structural reform on the basis of keen perception of realty and elimination of inefficiencies from the past.
Under the slogan of "Value first, Better Life," Samsung Life will attain global competency comparable to that of advanced companies and competitive wealth management capabilities in asset and risk management investment and retirement plans, mainly with the insurances to transform itself to be the world leading global financial company.
Their new vision of 21st Century, becoming the Global comprehensive financial services company 2010, will be accomplished after completion of their successful self-restructuring reform. nw