Prudential Life Launches as KB Financial Subsidiary... "Synergy with Affiliates Expected"

[Asia Economy Reporter Oh Hyung-gil] Prudential Life Insurance, newly incorporated as a subsidiary of KB Financial Group, announced that it will demonstrate various synergies with financial affiliates.

On the 1st, Prudential Life Insurance held a launch ceremony at Prudential Tower in Yeoksam-dong, Seoul, to commemorate its incorporation as a subsidiary of KB Financial.

The ceremony was attended by Sunwoo Seok-ho, Chairman of the Board of KB Financial Group; Yoon Jong-kyu, Chairman of KB Financial Group; Yang Jong-hee, Head of Insurance Division at KB Financial Group; Lee Chang-kwon, CSO Vice President of KB Financial Group; Min Ki-sik, newly appointed CEO of Prudential Life Insurance; Heo Jeong-su, CEO of KB Life Insurance; and Kim Jeong-dae, Senior Outside Director of Prudential Life Insurance. Employees of Prudential Life Insurance and its affiliates watched the ceremony via live broadcast on YouTube.

Yoon Jong-kyu, Chairman of KB Financial Group, stated, "We expect various synergies as KB Financial, which has the largest domestic sales network, merges with Prudential Life Insurance, which possesses the best sales capabilities in the life insurance industry. We will do our best to support Prudential Life Insurance to grow and develop under the name of KB Financial Group."

At the event, Chairman Yoon pinned the KB Financial Group badge on CEO Min Ki-sik and urged him to strengthen the company's status as a 'market leader in the insurance industry.'

Prudential Life Insurance unveiled the slogan "Adding value to life insurance to change the world through finance" and declared, "We will provide long-term and innovative financial services based on customer trust."

First, the top priority this year is to settle within KB Financial and enhance value. Prudential Life Insurance will operate as an independent corporation to fully leverage its strengths, including the highest level of exclusive agents in Korea, top-tier financial soundness in the industry, and a stable asset management portfolio.

Additionally, the mid- to long-term strategic directions include ▲ strengthening a field-oriented culture to realize a customer-first philosophy ▲ establishing a premium sales model that combines top-level exclusive agents with various financial services of KB Financial Group ▲ providing differentiated customer services through digital innovation.

Prudential Life Insurance plans to offer various customized asset management services at the KB Financial Group level, including real estate, tax, and legal services, to its 650,000 customers with a high proportion of high-income earners. It also plans to enhance competitiveness by converting the exclusive agent Life Planner (LP) channel into a 'Mobile Wealth Manager.'

CEO Min said, "Prudential Life Insurance has recorded stable growth through the Life Planner channel. We will create the industry's best premium Life Planner channel to become the market leader in the life insurance market and provide high-quality services and financial products."

This content was produced with the assistance of AI translation services.