Fubon Hyundai Holds Town Hall Meeting, Reaffirms Commitment to Profitability Turnaround

Fubon Hyundai Life Insurance announced on January 9 that it held a company-wide town hall meeting to share its future growth strategy and reaffirm its commitment to executing a turnaround to profitability.

This event departed from the traditional New Year kick-off ceremony, instead serving as an interactive forum for management and employees to communicate about the company’s business status, plans for the new year, and future growth strategies.

Fubon Hyundai Life Insurance held a company-wide 'Town Hall Meeting' to share its future growth strategy and reaffirm its commitment to achieving profitability. Fubon Hyundai

Over the past three years, Fubon Hyundai Life Insurance faced significant challenges in securing insurance profits due to regulatory and guideline changes, such as follow-up measures required by financial authorities regarding International Financial Reporting Standards (IFRS17). Fluctuations in asset valuations also led to greater volatility in both profits and capital ratios.

However, thanks to the efforts of its employees, the balance of the Contractual Service Margin (CSM), a key long-term profitability indicator, exceeded targets. The company also achieved results by expanding its insurance sales base, including the growth of its corporate insurance agency (GA) sales channel. In addition, it carried out a capital increase of 700 billion won through its major shareholder.

This year, Fubon Hyundai Life Insurance plans to shift from losses to a profitable operation.

Lee Jaewon, CEO of Fubon Hyundai Life Insurance, stated, "If the past three years have been a period of preparation for a new leap forward, this year marks the year of turnaround. I hope that our vibrant drive will shine even brighter as positive energy, allowing us to focus all our capabilities in the direction we aspire to pursue."