Samsung Life Invests 7.9 Billion Won in Nursing Care Subsidiary

According to YNA News, on July 9, Samsung Life invested 7.9 billion won in Samsung Noblique Life, its wholly-owned nursing care subsidiary, following a shareholder offering. The company had previously invested 31 billion won in the unit last year.

South Korean insurers are expanding into senior care and health management services as core business strategies. KB Life and Shinhan Life increased their nursing care subsidiaries with 50 billion won and 25 billion won respectively last year. Samsung Life also launched health management services as auxiliary business, effective August, offering consultation, appointment booking, hospital accompaniment, and end-of-life support to policyholders and the general public.