President Lee Jae-won says focus is on customer accessibility

[Provided by Fubon Hyundai Life]
[Provided by Fubon Hyundai Life]

Fubon Hyundai Life Insurance announced Sunday it had signed a strategic investment agreement with general agency Leaders Asset Advisors, as part of its GA sales growth strategy to adapt to rapid shifts in the insurance sales environment and distribution channel structure.

Leaders Asset, founded in 2002, is one of South Korea's first-generation general agencies. After relaunching as an independent corporation in 2020, it has consistently expanded its standing in the industry through solid internal growth and organizational stability. As of the end of last year, based on integrated disclosures by the GA Association, the mid-sized firm had 1,444 registered agents and a nationwide network of 142 branches.

Through the agreement, the two companies plan to diversify their product portfolios, strengthen customer service competitiveness and advance consumer protection frameworks. Fubon Hyundai Life said it intends to use the partnership to expand its strategic presence in the GA market and continue identifying new opportunities for cooperation.

"We will keep finding diverse opportunities to raise customer-centered value and meet customer demand in response to changes in insurance distribution channels," Fubon Hyundai Life President Lee Jae-won said. "We will focus on offering a wide range of product choices and improving customer accessibility and service quality in line with customer needs and market changes."

Meanwhile, Fubon Hyundai Life returned to profitability in the first quarter of this year, posting a net profit for the period of 3.8 billion won (about $2.51 million). Its contractual service margin, a long-term profitability indicator, rose 37.1 percent year-on-year to 204.5 billion won, signaling an ongoing improvement in the company's financial fundamentals.


psj@heraldcorp.com