Securing Future Growth Engines Through Asset Management and Exclusive Channel Competitiveness
ABL Life recorded an annual asset management return of 4.3% last year. The company secured stable profitability through asset management competitiveness, a high retention rate of insurance planners, and a strengthened portfolio focused on protection-type insurance.
According to the insurance industry on May 23, ABL Life’s asset management return for last year was 4.3%. The company’s asset management returns have consistently exceeded the industry average, with 3.9% in 2017, 4.0% in 2018, 3.8% in 2019, 3.6% in 2020, 3.9% in 2021, 4.0% in 2022, and 4.3% in 2023. An ABL Life representative said, “This performance is the result of a deep understanding of market conditions, establishing a balanced management strategy, and making swift investment decisions.”
The growth of the exclusive financial consultant (FC) channel is also noteworthy. The protection-type monthly premium performance reached 123.6% of the target, and the 13th-month persistency rate is among the highest in the industry. As of last year, the 13th-month persistency rate was 92.1%, and the 25th-month rate was 78.7%, demonstrating both customer trust and the company’s ability to ensure complete sales. The retention rate for exclusive channel planners at ABL Life also reached 81.5% last year, the highest in the industry. This result was achieved by effectively increasing the number of retained planners through organic collaboration among branch managers, team managers, and development managers, all based on a 100% in-house employee-type sales management system.
ABL Life has recently been strengthening its portfolio centered on protection-type insurance by launching various health insurance products. The “(Non-dividend) ABL Our Family THE Care Nursing Insurance (No Surrender Value Type),” which was launched on April 1, offers step-by-step coverage according to long-term care levels. If optional riders are selected, the policy provides broad coverage for home care benefits, facility care benefits, and caregiver costs. In this era of super-aging, the product simultaneously offers protection for senior health and alleviates the burden of nursing care.
Recently, ABL Life’s subordinated bond credit rating was upgraded by one notch from A (Positive Review) to A+ (Stable). The company’s management stability and market credibility are expected to improve further going forward.
As of the end of last year, ABL Life’s total assets stood at 18.6651 trillion won, and its earned premiums were 2.6686 trillion won. Founded in 1954, ABL Life is the second oldest life insurance company in Korea. The company offers advanced and differentiated insurance products through 87 corporate general agencies nationwide, 23 partner financial institutions, and more than 2,100 exclusive planners. An ABL Life representative said, “We plan to continue sustainable growth based on a high retention rate of planners, a strong 13th-month persistency rate, a balanced portfolio centered on protection-type products, and a stable asset management strategy. We will continue to establish ourselves as a trusted insurance company by providing customer-centric insurance services and generating stable profits.”
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