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Finance

Samsung Life Insurance Co., Ltd.

Company Background

Samsung Life Insurance is South Korea's largest life insurer. It was founded as Dongbang Life in 1957 and merged with the Samsung group in 1963. The company holds a prominent position in the capital structure of Samsung group. Samsung C&T, the de facto holding company of Samsung Life Insurance, is the insurer's largest shareholder. Samsung Life Insurance is the largest shareholder in Samsung Electronics, the core company of the Samsung group.

The group is expected to promote the realignment of affiliated companies to streamline the complicated capital ties within the group and strengthen the founding family's control.

Many market participants are closely watching how the makeup of Samsung Life Insurance's shareholders and investments will change.

It is likely that Samsung Life Insurance will be forced to review its investment in Samsung Electronics.

South Korea's principle of separating industrial and financial capital restricts investments in the manufacturing industry by the finance industry.

Samsung Life Insurance's holding of Samsung Electronics' stocks currently falls within the allowable range. But discussions often arise about whether shareholding limits should be lowered further.

The slow growth of South Korea's economy is spurring a decline in interest rates. Domestic assets account for more than 90% of Samsung Life Insurance's asset management as of 2015. By category, bonds account for roughly 60%. The company is significantly affected by domestic interest rates and prone to negative yields.

Business Summary

Samsung Life Insurance Co., Ltd. engages in the life insurance and financial services business. It operates through following business divisions: Insurance, Loans, Corporate Pension, Fund, and Trust. The company was founded on April 24, 1957 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2019 KRWUSD
Revenue27,159.98B23,289.61M
Gross Profit----
Operating income1,147.27B983.78M
Income before tax1,309.21B1,122.64M
Net income977,391M838.11M
EBITDA----
Diluted EPS5,442.804.66
Dividends Per Share2,6502.27
Total Assets312,654.19B270,356.86M
Total liabilities263,809.32B228,119.96M
Total equity35,667.03B30,841.83M
Operating cash flow9,524.30B8,167.06M
Currency in KRWCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 25,355.68B 27,947.94B 28,520.81B 29,514.43B 27,159.98B
Gross Profit -- -- -- -- --
Operating income 801,469M 1,221.58B 3,090.62B 2,692.19B 1,147.27B
Income before tax 1,247.99B 2,240.62B 1,682.77B 2,365.70B 1,309.21B
Net income 1,211.23B 2,054.26B 1,166.12B 1,664.38B 977,391M
EBITDA -- -- -- -- --
Diluted EPS 6,418 11,407 6,493.79 9,268.46 5,442.80
Dividends Per Share 1,800 1,200 2,000 2,650 2,650
Total Assets 230,303.52B 264,591.45B 282,645.40B 289,341.18B 312,654.19B
Total liabilities 206,581.78B 236,283.00B 251,523.83B 258,835.72B 263,809.32B
Total equity 23,645.83B 26,644.23B 29,358.94B 28,902.09B 35,667.03B
Operating cash flow 5,162.33B 4,757.09B 1,608.18B 1,956.12B 9,524.30B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 22,402.90M 24,089.11M 25,228.27M 26,818.67M 23,289.61M
Gross Profit -- -- -- -- --
Operating income 708.13M 1,052.91M 2,733.83M 2,446.30M 983.78M
Income before tax 1,102.65M 1,931.25M 1,488.50M 2,149.62M 1,122.64M
Net income 1,070.17M 1,770.63M 1,031.49M 1,512.36M 838.11M
EBITDA -- -- -- -- --
Diluted EPS 5.67 9.83 5.74 8.42 4.66
Dividends Per Share 1.59 1.03 1.76 2.40 2.27
Total Assets 196,412.53M 219,068.91M 264,018.85M 259,312.75M 270,356.86M
Total liabilities 176,181.63M 195,630.89M 234,948.22M 231,973.21M 228,119.96M
Total equity 20,166.16M 22,060.13M 27,424.17M 25,902.57M 30,841.83M
Operating cash flow 4,561.16M 4,100.27M 1,422.53M 1,777.45M 8,167.06M

Valuation Measures

Dec 2019
PER13.68
ROA0.32%
ROE3.02%
Operating margin4.22%
Profit margin3.59%

Key executives

  • President, Chief Executive Officer & Director: Young-Muk Jeon
  • Managing Director, Head-Finance & Economy: Kyung-Bok Lee
  • Senior MD, Head-Legal & Compliance Support: Jong-Wook Jung
  • Senior Managing Director & Head-CPC Strategy: Jin-Sup Han
  • Senior Managing Director & Head-Sales: Yong-Gwan Kim

Shareholders

  • LEE KUN HEE (20.7%)
  • Samsung C&T Corp. (19.3%)
  • Samsung Life Insurance Co., Ltd. (10.2%)
  • National Pension Service of Korea (5.9%)
  • E-Mart, Inc. (5.8%)
  • Samsung Foundation of Culture (4.6%)
  • Shinsegae Co., Ltd. (2.1%)
  • Samsung Life Public Welfare Foundation (2.1%)
  • The Vanguard Group, Inc. (0.9%)
  • Templeton Asset Management Ltd. (0.8%)

Contact Details

Related Companies

  • Samsung Life Insurance Co., Ltd. (DSG)
  • Samsung Asset Management (London) Ltd.
  • Macquarie Central Office Corporate
  • Samsung Life Insurance Co., Ltd. (Investment Portfolio)
  • Samsung Life Insurance Co., Ltd. ESOA
  • Samsung Asset Management co. LTD.
  • Samsung Card Co., Ltd

Competitors

  • Toughbuilt Industries, Inc.
Last Updated on 20 Oct, 2020

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