[Korea gimmingyeong financial newspaper News] Kim, Chang - Su Samsung Life reappointed president to succeed on the 24th, the wings of emergency was rolled wide again. President Kim, Chang - Soo seemed to take a break, but triumphantly re-elected as a suicide risk insurance and various spectacular performance recorded during the past term. But Mr. Kim was to welcome a new term to overcome and grab the baton of Samsung Life it again until 2020.
Kim, Chang - Soo, president drove the earnings improvement and record the last first year appointed a spectacular performance Samsung Life Insurance in January 2014. President Kim has built a business by getting experience, including Samsung Fire & CEO of Samsung Life Before appointed to the inaugural collected from the initial expectations. He focused on "improving fundamentals" for Samsung Life Insurance was focused on top-line growth after taking office. In particular, it struggled in a massive loss ratio management.
This Samsung Life is short term, the earnings decline, but the net profit surged since the end of 2014. 2013 Samsung Life has recorded a net profit of 454.8 billion won net profit of 1 trillion Kim, Chang - Su 1 2014 131 100 000 000 years after the president appointed. A slight decline in the 1 one trillion 839 billion to 2015 years later, but it had a big impact this minimum guarantee reserves earn more than 3000 million.
Since taking office, President Kim of Samsung Life loss ratio also plunged. President Kim, Chang - Soo focused on the loss ratio, including management organization rebalancing has succeeded in making the draw ratio of Samsung Life just took office nearly two years 10% p. Samsung Life Insurance's loss ratio to the previous year's record 87.14% in 2013, but with a somewhat higher level competitors were improved about 77.8% lower than a year of the end of 2015 competitors.
Indicators of RBC (solvency) ratio shows the financial strength of insurance companies also rose significantly. IFRS17 ahead of the introduction of many life insurers, Samsung Life RBC, while suffering from body aches to RBC management is close to September last year, based on 388.3%, and much higher than the gwongochi 100% of the financial authorities.
Such assessment is that there hosiljeok President Kim, Chang - Soo far out looking to establish a 'one cyan, the fruition of practice management strategies. President Kim, Chang - Soo was turning a protection-type insurance focused sales strategy to overcome the risk of secondary negative margin after taking office savings insurance.
Protection-type insurance is helpful in case of death, hospitalization, treatment, disaster, accident insurance product profitability to pay the insurance, but there is the difficult part commodity nature of sales revenue without easy visible.
In many insurers have chosen the easy way to expand the share of savings protection-type insurance products, rather than increasing the size of assets. These insurers have been tteoange the recapitalization burden of RBC strengthen management. Kim, Chang - Soo, president of the central sales of protection-type insurance "substantial chopper 'strategy is Shem was a visionary decision.
Kim, Chang - Soo, president of the Board of Directors re-elected last month in 23 days held in recognition of these achievements was business decision. Lower the warning censure as a suicide problem in insurance payments after the Council decision to this policy, the financial authorities seemed to be frustrated reappointment of Mr. Kim. Samsung Life, the situation has evolved to include full payment by opening an emergency board of directors and the suicide unpaid claims.
As a result, the water level is lowered disciplinary dwaetgo Carol received applause from shareholders re-elected at the shareholders' meeting 24 days.
Kim, Chang - Soo, president and views that in this place, this year will gotta introduction of IFRS (the new International Financial Reporting Standards) and new RBC (solvency) system is rapidly changing paradigm of the insurance industry "to expand the" Selling portfolio balanced will the ongoing cost innovation 'he said.
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