Company profile

Future of Samsung Life Insurance

#
Rank
854
| Quantumrun Global 1000

Samsung Life Insurance is a multinational insurance firm based in Seoul, South Korea. It is the largest insurance firm in South Korea and is owned by the Samsung Group. Samsung Life Insurance provides health, life insurance, and annuities. Samsung Life was established as a private firm in 1957 but became public in 2010. The company received the largest IPO in the history of South Korea making it one of the most valuable companies in South Korea with reference to market capitalization. The company is headquartered across Namdaemun which is a historic gate located in the heart of Seoul.

Home Country:
Sector:
Industry:
Insurance - Life, Health (stock)
Founded:
1957
Global employee count:
5284
Domestic employee count:
Number of domestic locations:
1

Financial Health

Revenue:
$30428633000000 KRW
3y average revenue:
$28520309333333 KRW
Operating expenses:
$29442112000000 KRW
3y average expenses:
$27340127000000 KRW
Funds in reserve:
$4723503000000 KRW
Market country
Revenue from country
0.99

Asset Performance

  1. Product/Service/Dept. name
    Annuity
    Product/Service revenue
    4980334000000
  2. Product/Service/Dept. name
    Whole life and term life insurance
    Product/Service revenue
    9255560000000
  3. Product/Service/Dept. name
    Endowment insurance
    Product/Service revenue
    2098740000000

Innovation assets and Pipeline

Number of patents field last year:
2

All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.

*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.

*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks.

*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.

*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.

COMPANY’S FUTURE PROSPECTS

Company Headlines