Official Launch of 'KB Life Saengmyeong'... "Aiming to Become the 3rd Largest in the Industry by 2030"

Launch of Prudential Life and KB Life Integrated Corporation
"Providing Customized Comprehensive Financial Services... Leading the Industry"

At the launch ceremony of 'KB Life Insurance' held on the 2nd at KB Life Tower in Gangnam-gu, Seoul, Yoon Jong-kyu, Chairman of KB Financial Group (second from right), Heo In, Vice Chairman of KB Financial Group (first from right), Lee Dong-cheol, Vice Chairman of KB Financial Group (first from left), and Lee Hwan-joo, CEO of KB Life Insurance, are taking a commemorative photo. (Photo by KB Life Insurance)

[Asia Economy Reporter Minwoo Lee] The integrated corporation of KB Life Insurance and Prudential Life Insurance has officially launched. It announced its ambition to establish itself as the top-tier life insurance company in Korea through differentiated comprehensive financial solutions and to achieve the industry's third place by 2030.

On the 2nd, KB Life Insurance held the launch ceremony of the integrated corporation at KB Life Tower in Gangnam-gu, Seoul. Revealing the new goal of "The most trusted lifelong happiness partner through the best talents and bold innovation," it also expressed its ambition to reach third place in the industry by 2030.

Based on industry-leading capital soundness and various sales channels including KB Life Partners, a specialized sales subsidiary, corporate insurance agencies (GA), bancassurance (BA), direct marketing (DM), and online, the company plans to secure competitiveness and provide customers with tailored comprehensive financial services throughout their life cycle.

Lee Hwan-joo, CEO of KB Life Insurance, said, "KB Life Insurance has taken the first step on a great journey under the name KB Life Insurance by merging Prudential Life and KB Life." He added, "We will move forward together with our employees to create innovation in customer experience by providing differentiated products and services." Following this, as the first official schedule after the launch, he visited the integrated control room to check the system integration status.

Yoon Jong-kyu, Chairman of KB Financial Group, also said in his congratulatory speech, "Based on a stable financial foundation and outstanding human capabilities, the competitiveness and network of KB Financial Group will combine to create synergy." He added, "We will actively support so that our goal of becoming a top-tier life insurance company can definitely be realized based on these capabilities."

Meanwhile, Prudential Life established its Korean corporation in 1989 and was incorporated as a subsidiary of KB Financial Group in 2020. This year, it merged with KB Life, established in 2004, and newly launched under the name KB Life Insurance.