Samsung Life Insurance

{{Infobox company

| name = Samsung Life Insurance
삼성생명

| native_name = 삼성생명보험 (三星生命保險)

| logo = File:Samsung Life Insurance logo.svg

| type = Public

| traded_as = {{kse|032830}}

| caption =

| foundation = {{start date and age|1957}}

| location = Seoul, South Korea

| key_people = Jeon Young-muk (CEO)

| num_employees = 6,266 (2010)

| industry = Insurance

| products = Life insurance
Health insurance
Annuities

| revenue = {{increase}} KRW 34.53 trillion (2020){{cite web|url=https://finance.naver.com/item/main.nhn?code=032830| title=삼성생명 - 네이버 금융 : 네이버 금융 }}

| net_income = {{increase}} KRW 1.79 trillion (2020)

| assets = {{increase}} KRW 336.6 trillion (2020){{cite web|url=https://finance.naver.com/sise/sise_market_sum.nhn|title=시가총액 : 네이버 금융 }}

| equity = {{Increase}} KRW 43.61 trillion (2020)

| owners = Estate of Jay Y. Lee (20.32%)
Shinsegae Group (8.07%)
National Pension Service (6.33%)

| parent = Samsung

| subsid = Samsung Asset Management Co. Ltd.{{cite web|url=http://m.eng.samsungfund.com/content/firm.do#corporate|title=Our Firm > About Us > Samsung Asset Management|website=samsungfund.com|publisher=Samsung Asset Management Co. Ltd|accessdate=July 9, 2022}}

| homepage = [http://samsunglife.com/ www.samsunglife.com]

}}

Samsung Life Insurance ({{Korean|hangul=삼성생명보험}}) is a South Korean multinational insurance company headquartered in Seoul, South Korea, and a subsidiary of the Samsung Group. It is the largest insurance company in South Korea and a Fortune Global 500 company.{{cite news| url=https://money.cnn.com/magazines/fortune/global500/2009/snapshots/10464.html | work=CNN | title=Fortune Global 500 2009: The World's Biggest Companies}}{{cite web|last=Jung |first=Song |url=http://www.ft.com/cms/s/0/ee5f54b2-504c-11df-bc86-00144feab49a.html |title=Samsung Life IPO generates $4.4bn |publisher=FT.com |date=2010-04-25 |access-date=2012-07-23}}

Samsung Life's principal products include life, health insurance and annuities. Samsung Life was a private company from its foundation in 1957 until it went public in May 2010. The IPO was the largest in South Korean history and made Samsung Life one of the country's most valuable companies measured by market capitalization.{{cite news| url=https://www.wsj.com/articles/SB10001424052748704250104575239031344683648 | work=The Wall Street Journal | title=Samsung Life Rises in IPO | date=May 12, 2010}} Its headquarters are situated across from Namdaemun, a historic gate located in the heart of Seoul.

History

Founded in 1957, the company quickly grew and attained a market leading position after just 18 months of operations. Since then, Samsung Life Insurance has maintained its market leadership in the industry through product innovation, marketing, and distribution. In particular, the growth was accelerated after the company was incorporated under Samsung Group in 1963.{{cite web |url=http://www.samsunglife.com/company_en/overview/history.html |title=Samsung Life Insurance |publisher=Samsunglife.com |access-date=2012-07-23 |url-status=dead |archive-url=https://web.archive.org/web/20120714112347/http://www.samsunglife.com/company_en/overview/history.html |archive-date=2012-07-14 }}

In 1986, the company opened representative offices in New York and Tokyo. It has also expanded in overseas operation through a joint venture in Thailand in 1997 and China in 2005. The company was the first life insurance company in Korea to achieve KRW 100 Trillion Won in assets in 2006. On May 12, 2010, Samsung Life Insurance went public and the shares went for 110,000 won, or $96/share in one of the largest initial offerings and a record for the country, raising $4.4 billion.