ING Life has been affirmed the financial strength rating of A (Excellent) from A.M.Best

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2006-02-16 11:40

Seoul--(뉴스와이어)--ING Life Insurance, Korea, Ltd. has been affirmed the financial strength rating of A (Excellent) from A.M.Best. The outlook has been revised to positive from stable. ING Life is the only company amongst all life insurance companies in Korea that has achieved A (excellent) grade for 6 consecutive years from 2000 to 2005. The ratings reflect ING Life’s excellent profitability, adequate capitalization and growing presence in the Korean life insurance market. The ratings also reflect the company’s successful entrance into the bancassurance distribution channel and its strong management team.

Growing presence

Due to its strong brand recognition and professional sales channel, ING life was able to grow its presence as the fourth-largest player in the Korean life market to 5% premium market share in fiscal year 2004, which ended March 31, 2005. In case of new business, the company recorded 7% market share in fiscal year 2004.

A.M. Best believes that the company’s growth will be sustained as it has a balanced insurance portfolio.

High profitability

ING life was able to increase its profitability in line with the strong premium growth.

Adequate capitalization

A.M. Best believes that the company generates enough internal capital to support its business.

The Korean local solvency ratio stands at 179% as of September 2005. Although improvement

in capitalization will not be evident in fiscal year 2005 due to a decrease of unrealized capital gains, A.M. Best expects that ING Life’s risk-based capitalization will slowly improve going forward.

Korea is currently experiencing a low interest rate environment, which is likely to continue.

However, A.M. Best is of the view that the company’s current investment yield is well above the assumed interest rate.

CEO of ING Life, Ron van Oijen said “The most crucial fact in operating financial business is to give customers confidence based on objective figure. The ratings affirm ING Life’s adequate capitalization and effective management that supports sustainable growth in quality as well as quantity. We will continue to commit ourselves in providing customer centric service through professional financial advice and products.”

신한라이프 개요
1987년에 설립된 이후 선진 금융 노하우를 바탕으로 지속적으로 성장해 온 오렌지라이프는 총 자산 규모 30조9004억원, 보험금 지급여력비율 287.7%(2017년 3월 말 기준)로 우수한 재무 건전성을 자랑하고 있다. 13년 연속 우수콜센터(KSQI)로 선정되는 등 고객 만족을 위한 지속적인 노력을 통해 '고객의 꿈을 위한 든든한 금융 파트너'로 자리매김하고 있다. 9월 3일 ING생명에서 오렌지라이프로 사명을 공식변경했다.

웹사이트: http://www.shinhanlife.co.kr