Samsung names new CEOs for insurance units

February 12 2018 by InsuranceAsia News Staff

Samsung Group’s insurance subsidiaries – Samsung Life Insurance and Samsung Fire & Marine Insurance – now have new CEOs following the resignation of the previous heads.

Hyun Sung-chul, vice president of Samsung Fire & Marine, has been appointed new CEO of Samsung Life, the largest life insurer in South Korea.

He takes over from Kim Chang-soo, who offered to resign from the post.

Samsung Life said that Hyun will be able to give traction to the company celebrating its 60th anniversary this year. Samsung Fire & Marinehas promoted Choi Young-moo, head of the car insurance business, as its new CEO.

Choi was previously head of human resources and business strategy at the non-life insurer.

The appointments will have to be approved by shareholders of both firms when they meet next month.