|Date joined:||8 September, 2021|
|Subsidiary of:||NongHyup Financial Group Inc.|
|Initiatives:||Principles for Sustainable Insurance|
NongHyup Life Insurance (NH Life) started its business with mutual-aid as NACF in 1965, transformed itself into a private insurance company in 2012, and has striven for stable financial support for farmers and rural communities. It sustains steady growth with KRW 65 trillion in total assets and 3 million customers with their support and trust.
NH Life provides more than 50 types of insurance products including whole-life and annuities to help our customers develop financial plans according to their life events. It is the only company to offer insurance plans for farmers, the government policy product, to ensure safety and help them to concentrate on organic farming.
By signing the Principles for Sustainable Insurance, NH Life will take into account ESG factors in all decision makings related to their insurance business such as management strategy, risk management, product development, sales and claims management. NH Life aims to work together with their customers and business partners to raise awareness of ESG issues and the government, supervisory authorities, and key stakeholders to actively communicate for management and improvement of ESG issues.