As of my knowledge cutoff in September 2021, the top 5 insurance companies in Korea by total assets were:
Samsung Life Insurance
With total assets of KRW 371.3 trillion ($318 billion) as of 2020, Samsung Life Insurance is the largest insurance company in Korea.
Samsung Life Insurance is a South Korean life insurance company headquartered in Seoul, South Korea. It is one of the largest life insurance companies in Asia and was established in 1957 as Dongbang Life Insurance. In 1963, the company was acquired by Samsung Group, and it was renamed to Samsung Life Insurance in 1989.
As of 2021, Samsung Life Insurance has approximately 9 million policyholders and over 20,000 employees. The company operates in South Korea and has subsidiaries in China, Vietnam, and Indonesia. It offers a wide range of insurance products, including individual life insurance, group insurance, pension plans, and annuities.
Samsung Life Insurance is also involved in other businesses such as asset management, real estate investment, and financial services. The company’s assets under management as of 2021 were over 300 trillion Korean won (approximately 256 billion US dollars).
Samsung Life Insurance has been recognized for its financial stability and performance. It has received high ratings from credit rating agencies such as Moody’s, Standard & Poor’s, and Fitch Ratings. The company has also been recognized for its corporate social responsibility efforts, such as its support for community development and environmental sustainability initiatives.
Kyobo Life Insurance
Kyobo Life Insurance is the second-largest insurance company in Korea, with total assets of KRW 122.4 trillion ($104.9 billion) as of 2020.
Kyobo Life Insurance is a leading life insurance company in South Korea. The company was founded in 1958 and is headquartered in Seoul, South Korea. Kyobo Life Insurance provides a wide range of insurance products and services, including life insurance, retirement planning, annuities, accident insurance, and health insurance.
Kyobo Life Insurance is known for its innovative and customer-centric approach to insurance. The company has a strong focus on technology and has developed a range of digital platforms and tools to help customers manage their insurance policies and make informed decisions about their insurance needs.
Kyobo Life Insurance is also committed to corporate social responsibility and has implemented a range of programs to support local communities and promote sustainable development. The company has been recognized for its efforts in this area, receiving numerous awards and accolades for its corporate citizenship and sustainability practices.
Kyobo Life Insurance has a strong financial performance and is rated highly by leading rating agencies such as Standard & Poor’s and Moody’s. The company is a member of the Kyobo Group, which is one of the largest and most diversified conglomerates in South Korea.
Hanwha Life Insurance
Hanwha Life Insurance has total assets of KRW 109.9 trillion ($94.1 billion) as of 2020, making it the third-largest insurance company in Korea.
Hanwha Life Insurance is a life insurance company based in South Korea. It was founded in 1946 as Korea Life Insurance and became Hanwha Life Insurance in 2002 after being acquired by the Hanwha Group, one of South Korea’s largest conglomerates.
Hanwha Life Insurance offers a range of life insurance products, including term life insurance, whole life insurance, universal life insurance, and annuities. The company also provides retirement planning services and asset management services through its subsidiaries.
Hanwha Life Insurance has a strong presence in South Korea and also operates in several other countries, including the United States, Vietnam, Indonesia, and China. The company has received several awards for its customer service and product offerings, including being named the “Best Life Insurance Company in Korea” by Global Banking and Finance Review for three consecutive years (2018-2020).
NH Life Insurance
NH Life Insurance has total assets of KRW 100.5 trillion ($86.1 billion) as of 2020, making it the fourth-largest insurance company in Korea.
NH Life Insurance is a life insurance company in South Korea. It was founded in 2011 as a joint venture between National Agricultural Cooperative Federation (NACF) and the Netherlands-based ING Group. In 2013, ING Group sold its 51% stake in NH Life Insurance to NongHyup Financial Group, which is a subsidiary of NACF.
NH Life Insurance offers various life insurance products, including term life insurance, whole life insurance, and critical illness insurance. It also provides retirement and annuity plans, as well as financial planning services.
The company aims to provide financial security and peace of mind to its customers by offering comprehensive insurance products and financial solutions. It has a strong focus on customer satisfaction and strives to deliver high-quality services to meet the needs of its customers.
KB Life Insurance
With total assets of KRW 84.1 trillion ($72 billion) as of 2020, KB Life Insurance is the fifth-largest insurance company in Korea.
KB Life Insurance is a South Korean life insurance company that provides a range of life insurance and financial products to individuals and businesses. The company was founded in 1957 and is headquartered in Seoul, South Korea.
KB Life Insurance offers a variety of life insurance products, including term life insurance, whole life insurance, and universal life insurance. In addition to life insurance, the company also provides retirement plans, annuities, and other financial products to help customers plan for their future.
KB Life Insurance is a subsidiary of KB Financial Group Inc., one of the largest financial services companies in South Korea. The company operates through a network of branches and agents throughout South Korea and has been recognized for its strong financial performance and customer service.
