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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 2018 KRWUSD
Revenue29,514.43B26,818.67M
Gross Profit----
Operating income2,692.19B2,446.30M
Income before tax2,365.70B2,149.62M
Net income1,664.38B1,512.36M
EBITDA----
Diluted EPS9,268.468.42
Dividends Per Share2,6502.40
Total Assets289,341.18B259,312.75M
Total liabilities258,835.72B231,973.21M
Total equity28,902.09B25,902.57M
Operating cash flow1,956.12B1,777.45M
Currency in KRWCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 25,536.38B 25,355.68B 27,947.94B 28,520.81B 29,514.43B
Gross Profit -- -- -- -- --
Operating income 1,286.46B 801,469M 1,221.58B 3,090.62B 2,692.19B
Income before tax 1,379.80B 1,247.99B 2,240.62B 1,682.77B 2,365.70B
Net income 1,337.48B 1,211.23B 2,054.26B 1,166.12B 1,664.38B
EBITDA -- -- -- -- --
Diluted EPS 7,062 6,418 11,407 6,493.79 9,268.46
Dividends Per Share 1,800 1,800 1,200 2,000 2,650
Total Assets 214,376.48B 230,303.52B 264,591.45B 282,645.40B 289,341.18B
Total liabilities 192,091.74B 206,581.78B 236,283.00B 251,523.83B 258,835.72B
Total equity 22,204.91B 23,645.83B 26,644.23B 29,358.94B 28,902.09B
Operating cash flow 9,413.32B 5,162.33B 4,757.09B 1,608.18B 1,956.12B
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 24,258.95M 22,402.90M 24,089.11M 25,228.27M 26,818.67M
Gross Profit -- -- -- -- --
Operating income 1,222.11M 708.13M 1,052.91M 2,733.83M 2,446.30M
Income before tax 1,310.77M 1,102.65M 1,931.25M 1,488.50M 2,149.62M
Net income 1,270.58M 1,070.17M 1,770.63M 1,031.49M 1,512.36M
EBITDA -- -- -- -- --
Diluted EPS 6.70 5.67 9.83 5.74 8.42
Dividends Per Share 1.70 1.59 1.03 1.76 2.40
Total Assets 195,038.41M 196,412.53M 219,068.91M 264,018.85M 259,312.75M
Total liabilities 174,763.89M 176,181.63M 195,630.89M 234,948.22M 231,973.21M
Total equity 20,201.89M 20,166.16M 22,060.13M 27,424.17M 25,902.57M
Operating cash flow 8,942.42M 4,561.16M 4,100.27M 1,422.53M 1,777.45M

Valuation Measures

Dec 2018
PER8.80
ROA0.58%
ROE5.71%
Operating margin9.12%
Profit margin5.63%

Key executives

  • President, Chief Executive Officer & Director: Sung-Chul Hyun
  • Managing Director, Head-Finance & Economy: Kyung-Bok Lee
  • Senior MD, Head-Legal & Compliance Support: Jong-Wook Jung
  • Vice President & Head-Asset Management: Ho-Seok Yoo
  • Vice President & Head-Strategic Sales: Won-Hak Hong

Shareholders

  • LEE KUN HEE (20.7%)
  • Samsung C&T Corp. (19.3%)
  • Samsung Life Insurance Co., Ltd. (10.2%)
  • E-Mart, Inc. (5.8%)
  • National Pension Service of Korea (5.2%)
  • Samsung Foundation of Culture (4.6%)
  • Shinsegae Co., Ltd. (2.1%)
  • Samsung Life Public Welfare Foundation (2.1%)
  • Comgest SA (1.8%)
  • Samsung Asset Management Co., Ltd. (1.0%)

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

    Last Updated on 12 Nov, 2019

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