Korean Teachers’ Credit Union Surpasses 4 Trillion Won in Insurance Assets

The Korean Teachers’ Credit Union has surpassed 4 trillion won in insurance assets.

On May 19, the Credit Union announced that, for the first time since it began its insurance business in earnest in 1995, its insurance assets have exceeded 4 trillion won. The Credit Union explained, "As an insurance exclusively for teachers and school staff, we have provided customized coverage services tailored to the life cycle of educational families, achieving continuous growth based on our members' trust."

The Credit Union established the foundation for its insurance business in September 1995 by introducing a comprehensive welfare benefits system. Since then, it has developed insurance products focused on protection, tailored to the life cycle of teachers and school staff. In 2015, it launched its insurance brand "Teachers Life," and in 2018, it introduced separate accounting for the insurance business. Currently, the number of insurance policies held stands at approximately 890,000. As of the end of last year, the policy retention rate was 93.3%.

To commemorate reaching 4 trillion won in insurance assets, the Credit Union will hold the "Teachers Life 4 Trillion Won Asset Achievement Thank You Event" until June 22.

A Credit Union official stated, "Going forward, we plan to further enhance member satisfaction by developing customized products for teachers and school staff and improving service quality in response to the evolving insurance environment."

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