Hyundai Marine & Fire Insurance announced on the 27th that through a regular board meeting, Lee Seok-hyun, Executive Vice President and Head of the CPC Strategy Division, has been appointed as the new CEO.
The appointed CEO candidate joined Hyundai Marine & Fire Insurance in 1993 and has worked in various fields including management planning, personal sales, and automobile insurance. Since 2023, he has served as the Head of the CPC Strategy Division, overseeing long-term insurance operations and marketing, gaining extensive experience and expertise in the general insurance industry.
Lee Seok-hyun, newly appointed CEO of Hyundai Marine & Fire Insurance and head of the CPC Strategy Division (Executive Director). Photo by Hyundai Marine & Fire Insurance
Last December, Hyundai Marine & Fire Insurance integrated its organizational structure and streamlined management through a large-scale reorganization. This was to prepare for a challenging business environment due to uncertain external factors such as interest rates and regulatory changes that increase solvency burdens. The company secured new growth engines by replacing existing division and headquarters-level executives and recruiting external experts from various fields. By appointing Lee as CEO, the company explained that it has established a management system to respond to crises and changes and to ensure sustainable growth.
The appointed CEO is scheduled to be officially appointed through the shareholders' meeting in March.
Co-CEOs Jo Yong-il and Lee Sung-jae, who have led Hyundai Marine & Fire Insurance since 2020, announced their resignation and stepped down following this board meeting. During their tenure, despite difficult external environments such as the COVID-19 pandemic and the introduction of new accounting standards, they achieved 10 million customers and over 1 trillion KRW in net profit.
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