Samsung Fire & Marine Insurance CEO Lee Munhwa: "We Must Grow Together with GA"

Samsung Fire & Marine Insurance holds '2025 Leaders Forum'
to share general insurance marketing strategies with corporate agencies

Samsung Fire & Marine Insurance announced on the 18th that it held the '2025 Leaders Forum' on the 17th at the Samsung Financial Campus in Seocho-dong, Seocho-gu, Seoul.

This forum was held for the first time this year to share Samsung Fire & Marine Insurance's general insurance marketing strategy by inviting corporate agency representatives, including general insurance agencies (GA) leading the recently growing small and medium-sized general insurance market.

Lee Munhwa, CEO of Samsung Fire & Marine Insurance, is speaking at the '2025 Leaders Forum' held on the 17th at the Samsung Financial Campus in Seocho-dong, Seocho-gu, Seoul. Photo by Samsung Fire & Marine Insurance

Compared to life insurance, general insurance products and coverages are more diverse and complex, making it difficult to compose appropriate coverage according to risks. Unlike life insurance-centered GAs and agencies, sales activities have been conducted mainly by a small number of specialized sellers.

Reflecting this market situation, Samsung Fire & Marine Insurance introduced its own general insurance contract system and support framework at the forum to resolve difficulties in sales channels and facilitate easy access to general insurance contracts. The forum was conducted under three themes: ▲ more convenient general insurance subscription design ▲ introduction of general insurance artificial intelligence (AI) system ▲ customer-centered work support. The main contents included the introduction of the Design Support Center, which provides 'one-on-one' support from design assistance to consultation, and Samsung Fire & Marine Insurance's work system that enables faster subscription design and underwriting through AI implementation.

Lee Mun-hwa, CEO of Samsung Fire & Marine Insurance, said in his welcoming speech, "I believe that Samsung Fire & Marine Insurance's support system and AI-based work system, created through differentiated efforts, will upgrade the growth of the general insurance market to a new level. We will make further efforts so that Samsung Fire & Marine Insurance and GAs can grow together in the general insurance market through this forum."

Meanwhile, Samsung Fire & Marine Insurance recorded a controlling shareholder net profit of 2.0736 trillion KRW last year, growing 14% compared to the previous year, according to its recent earnings announcement. Investment income increased by 101.8% year-on-year to 845.3 billion KRW, while insurance profit decreased by 6% year-on-year to 1.8893 trillion KRW. The increase in investment income was influenced by a 174 billion KRW rise in interest income and an 89 billion KRW increase in dividend income compared to the previous year. As a result, the investment yield last year improved by 0.42 percentage points year-on-year to 3.22%.

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