Tongyang Life Insurance Appoints Sung Daegyu as New CEO

Tongyang Life Insurance appointed Sung Daegyu as the new CEO at a board meeting held on July 1 at Gran Seoul Tower 1 in Jongno-gu, Seoul.

After graduating from the Department of Economics at Hanyang University, Sung entered public service through the civil service examination. He carried out major policy tasks related to the insurance industry. In 2016, he served as the head of the Korea Insurance Development Institute, where he led policy formulation and institutional improvements across the insurance sector.

In 2019, he was appointed CEO of Shinhan Life Insurance and led the acquisition of Orange Life. In 2021, he became the first CEO of the newly integrated Shinhan Life, spearheading both organizational integration and internal strengthening.

Sung Daegyu, CEO of Tongyang Life Insurance. Tongyang Life Insurance

Since September of last year, he has joined Woori Financial Group, playing a key role by overseeing the entire process of acquiring Tongyang Life Insurance and ABL Life Insurance.

Sung is expected to play a pivotal role in establishing a foundation for Tongyang Life Insurance’s sound and sustainable growth following its incorporation into Woori Financial Group, as well as creating synergy with other group affiliates.

Based on his extensive experience with acquisitions and organizational integration, he is expected to clarify Tongyang Life Insurance’s mid- to long-term direction in line with Woori Financial Group’s insurance strategy, while also enhancing the stability and efficiency of the organization’s operations.

In his inaugural address to employees on the same day, Sung stated, “Based on my long-standing experience and sense of responsibility gained from turning crises into opportunities and leading sustainable growth in the insurance industry, I will build a company trusted by customers, employees, and shareholders alike.”

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