Samsung Fire & Marine Insurance Signs Financial Consumer Protection MOU with Mega GA Global Financial Sales

Continued Collaboration on Consumer Protection Following Toss Insurance and GA Korea

Samsung Fire & Marine Insurance announced on May 8 that it had signed a "Financial Consumer Protection Business Agreement (MOU)" with Global Financial Sales, a corporate insurance agency (GA), at its headquarters in Seocho-gu, Seoul, on April 24.

Participants are taking a commemorative photo at the financial consumer protection business agreement ceremony between Samsung Fire & Marine Insurance and Global Financial Sales, a mega-sized corporate insurance agency. Dongju Won, Vice President of Market Leading Headquarters at Samsung Fire & Marine Insurance (fifth from the left), and Jongseon Kim, CEO of Global Financial Sales (sixth from the left), attended the signing ceremony. Photo by Samsung Fire & Marine Insurance

The agreement aims to strengthen internal control systems and promote a financial consumer protection culture based on cooperation between insurance companies and GAs. This marks the third such collaboration, following agreements with Toss Insurance in February and GA Korea in March.

Global Financial Sales, established in 2009, is a leading mega GA in Korea with approximately 14,000 insurance planners currently active.

The two companies discussed a variety of collaborative measures to enhance financial consumer protection.

Through the agreement, they have agreed to cooperate in several areas, including: ▲ strengthening internal controls and conducting voluntary inspections to prevent risks related to consignment and entrustment work; ▲ advancing systems for complaint prevention and handling to protect financial consumers; and ▲ reinforcing personal information protection and management systems.

In addition, they plan to continue cooperating on other matters deemed necessary to further strengthen financial consumer protection.

Dongju Won, Vice President of the Market Leading Division at Samsung Fire & Marine Insurance, stated, "Samsung Fire & Marine Insurance plans to further strengthen the culture of financial consumer protection by fostering mutually beneficial cooperation with GAs," adding, "We will continue striving to establish a sound market order and enhance consumer trust going forward."

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