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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 2021 KRWUSD
Revenue29,137.03B25,443.64M
Gross Profit----
Operating income1,767.53B1,543.48M
Income before tax1,680.30B1,467.31M
Net income1,469.43B1,283.17M
EBITDA----
Diluted EPS8,182.867.14
Dividends Per Share3,0002.61
Total Assets341,239.81B287,057.68M
Total liabilities285,909.10B240,512.39M
Total equity37,812.30B31,808.45M
Operating cash flow3,059.41B2,671.60M
Currency in KRWCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 28,520.81B 28,150.02B 27,161.62B 28,639.73B 29,137.03B
Gross Profit -- -- -- -- --
Operating income 3,090.62B 2,441.53B 1,147.27B 2,980.22B 1,767.53B
Income before tax 1,682.77B 2,243.37B 1,309.21B 1,672.91B 1,680.30B
Net income 1,166.12B 1,664.38B 977,391M 1,265.76B 1,469.43B
EBITDA -- -- -- -- --
Diluted EPS 6,493.79 9,268.46 5,442.80 7,048.68 8,182.86
Dividends Per Share 2,000 2,650 2,650 2,500 3,000
Total Assets 282,645.40B 289,341.18B 312,654.19B 336,449.33B 341,239.81B
Total liabilities 251,523.83B 246,827.20B 261,301.18B 275,010.92B 285,909.10B
Total equity 29,358.94B 28,902.09B 35,667.03B 41,894.75B 37,812.30B
Operating cash flow 1,608.18B 3,078.60B 9,524.30B 2,613.90B 3,059.41B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 25,228.27M 25,578.88M 23,291.01M 24,273.26M 25,443.64M
Gross Profit -- -- -- -- --
Operating income 2,733.83M 2,218.52M 983.78M 2,525.85M 1,543.48M
Income before tax 1,488.50M 2,038.46M 1,122.64M 1,417.86M 1,467.31M
Net income 1,031.49M 1,512.36M 838.11M 1,072.78M 1,283.17M
EBITDA -- -- -- -- --
Diluted EPS 5.74 8.42 4.66 5.97 7.14
Dividends Per Share 1.76 2.40 2.27 2.11 2.61
Total Assets 264,018.85M 259,312.75M 270,356.86M 309,720.44M 287,057.68M
Total liabilities 234,948.22M 221,210.96M 225,951.13M 253,162.94M 240,512.39M
Total equity 27,424.17M 25,902.57M 30,841.83M 38,566.46M 31,808.45M
Operating cash flow 1,422.53M 2,797.41M 8,167.06M 2,215.38M 2,671.60M

Valuation Measures

Dec 2021
PER7.83
ROA0.43%
ROE3.68%
Operating margin6.06%
Profit margin5.04%

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

  • Samsung C&T Corp. (19.3%)
  • LEE JAE-YONG /SAMSUNG ELECTRONICS/ (10.4%)
  • Samsung Life Insurance Co., Ltd. (10.2%)
  • LEE BU-JIN (6.9%)
  • National Pension Service of Korea (6.8%)
  • E-Mart, Inc. (5.8%)
  • Samsung Foundation of Culture (4.6%)
  • Shinsegae Co., Ltd. (2.1%)
  • Samsung Life Public Welfare Foundation (2.1%)
  • LEE SEO-HYUN (1.7%)

Contact Details

Related Companies

  • Samsung Life Insurance Co., Ltd. (DSG)
  • Samsung Asset Management (London) Ltd.
  • SSI Holding Co., 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 6 Dec, 2022

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