|Date joined:||31 December, 2009|
|Initiatives:||Principles for Sustainable Insurance|
Samsung Fire & Marine Insurance is the biggest non-life insurance company in Korea, boasting total assets of $21,694 million as of November 2009 and solvency ratio of 422.2% (as of September 2009). We vow to enhance client satisfaction and shareholder value by developing competitiveness through the introduction of advanced financial technologies, reinforcement of product development capabilities, and development of underwriting techniques.
As the best domestic non-life insurance company in terms of size, financial structure, and management, we have offices in USA, Europe, and Asian countries such as China, Indonesia, Japan, and Vietnam. We are continuously expanding and hope to become a world-class financial institution that provides various services.
SF&MI and Sustainability
In 2002, SF&MI declared the year as a threshold year for ethical management. The principles of SF&MI’s ethical management were set as 3Cs representing “Clean, Change, and Challenge.” Furthermore In 2009, it adopted a code of conduct aimed at improving “customer orientation”, “a sense of ownership”, “a spirit of challenge”, “professionalism”, and “compliance with laws.”
In 2008, we launched the green bicycle insurance. In Korea, this is the first bicycle insurance that provides personal & third party liability protection against the costs of damage or injury to other people or vehicles. Also, we are helping conserve our nature with our pollution liability insurance. This insurance product not only provides financial protection for damages caused by pollution incidents, but also prevents the spread and facilitates the clean-up of the environmental hazards. We also provide an array of programs for persons with disabilities such as donating guide dogs for the blind, supporting talented students with disabilities, assisting successful reintegration of the people into society, and increasing public awareness regarding people with disabilities. At the same time, since May 2005, our risk consultants (RC) participated in the “500 Gift of Hope” fund by donating KRW500 per long-term insurance contract. The fund is used to refurbish kitchens, restrooms, washstands, study rooms, etc. at homes and facilities of the disabled to improve functionality and convenience. Further information regarding our CSR activities is available at our homepage.
Link to Annual Report
Link to Sustainability Report
Information on their UNEP FI membership