Mirae Asset Life Insurance's Variable Insurance Surpasses Last Year's Record in 7 Months

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] Mirae Asset Life Insurance's variable insurance first-year premiums have surpassed last year's sales record.

According to Mirae Asset Life Insurance on the 7th, the company achieved 1.8 trillion KRW in variable insurance first-year premiums from the beginning of this year through July. Mirae Asset Life Insurance's market share in variable insurance increased by 6.5 percentage points compared to the end of the previous year, reaching 59.4%. Following last year, it is leading in new variable insurance contract sales again this year.

Mirae Asset Life Insurance has established a strategy to provide customers with the best portfolio and excellent investment performance based on the principle of global diversification. With growing interest in overseas investments recently, its investment strategy of allocating more than 60% of variable insurance assets to overseas assets is being recognized as successful.

Most of the variable insurance investment funds are flowing into overseas investment-type funds. As of the end of September, the top three variable insurance funds with the largest net asset increases over the past year are all overseas investment products. In particular, the ‘Mirae Asset Life Global MVP60’ fund exceeded 1 trillion KRW, showing the largest growth among single variable insurance funds.

Jung Seok Cho, Head of Asset Management Division at Mirae Asset Life Insurance, said, "We strive to provide a balanced portfolio under the principle of global asset allocation," adding, "Based on the competitiveness of variable insurance, we hope more customers will reasonably invest in global quality assets and prepare for a happy retirement plan."

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