Samsung Fire & Marine Insurance

Samsung Fire & Marine Insurance is a South Korean property-and-casualty insurance company headquartered in Seoul. Its origins date to the incorporation of Korea Anbo Fire Marine Reinsurance Co. on January 26, 1952. The founding enterprise emerged from financial difficulties affecting the Hunsesa education group, whose founder Koo Jin-hyun established an insurance operation in Busan. A second institutional predecessor, Ankuk Fire & Marine Insurance, was founded in Seoul in 1956. Samsung acquired Ankuk in 1958, establishing the connection with the Samsung business group that continues to define the company’s identity. The company’s early development was shaped by consolidation and regulation in the Korean insurance sector. Anbo and Ankuk were combined during the industry restructuring of the early 1960s, and the resulting business operated under the Ankuk name. It expanded into long-term and household insurance in the late 1960s and became a publicly traded company in 1975. Following the liberalization of automobile insurance distribution in the 1980s, the company built a substantial motor-insurance business and overtook Hankuk Motor Insurance in the domestic automobile market in 1984. Customer-service initiatives, including a dedicated service center and an early night-time accident-response operation, helped establish a service-oriented reputation. A major rebranding and strategic reset took place in the 1990s. In the context of Samsung Group’s quality-focused New Management program, the insurer announced its own second foundation in 1993 and adopted the Samsung Fire & Marine Insurance name in December of that year. The new identity accompanied investment in infrastructure, management systems, training and international operations. The company subsequently developed overseas offices, branches, subsidiaries and reinsurance capabilities in Asia, North America, Europe, Latin America and the Middle East. Its international portfolio has included operations in Indonesia, Vietnam, China, Brazil, the United States, Singapore and Europe, although the precise footprint has changed over time. SFMI’s business is broader than personal automobile insurance. Its portfolio includes automobile insurance, long-term insurance, general insurance for commercial and industrial risks, marine insurance, casualty and liability coverage, annuities, enterprise risk management and related financial services permitted under Korean law. The company has also invested in loss-control research, traffic-safety research, claims infrastructure and digital distribution. Its Anycar automobile brand and later direct-online offerings helped extend the company’s motor business into internet-based sales and service. The company has used the Samsung name to position itself around financial strength, reliability, service quality and technological development. It has supported road-safety programs, a guide-dog school for visually impaired people, scholarships for families affected by automobile accidents, disability-awareness programming and environmental initiatives linked to electronic policy documentation. It has also operated the Samsung Transportation Museum and sponsored cultural and sporting activities, including professional Go and volleyball-related programs. Samsung Fire & Marine Insurance remains an active listed insurer in South Korea with international activities. In April 2025, it was approved to become a subsidiary of its largest shareholder, Samsung Life Insurance. That change further aligned the insurer with the financial-services structure of Samsung Group while preserving its role as a non-life insurance specialist.

Samsung Fire & Marine Insurance traces its corporate history to two Korean insurers. Korea Anbo Fire Marine Reinsurance Co. was incorporated in Busan on January 26, 1952. It was associated with Koo Jin-hyun, whose Hunsesa education group faced financial pressure after agrarian reform and sought to establish an insurance business. Ankuk Fire & Marine Insurance was founded in Seoul in June 1956 by major shareholders connected with Josun Life Insurance. Samsung acquired the financially troubled Ankuk company in February 1958 as the group sought to build an insurance presence. The Korean non-life insurance industry underwent consolidation during the early 1960s. Anbo took over Ankuk in late 1962, and the combined enterprise initially used the Anbo name before reverting to Ankuk Fire & Marine Insurance in March 1963 because the Ankuk name was more familiar to customers. The company broadened its activities after receiving authorization to sell long-term and household insurance in 1969. It established a household-insurance sales division and expanded its branch and distribution network during the following decade. Ankuk went public on the Korea Stock Exchange in June 1975. It also began internationalizing its operations, opening a London office that year. The company entered automobile insurance after regulatory reform opened the market to additional non-life insurers in the 1980s. By 1984, it had surpassed Hankuk Motor Insurance in the domestic motor-insurance market. In 1989, it opened a customer-service center and introduced Midnight Express, an early night-time motor-accident claims service, together with emergency road assistance in Seoul. During the 1990s, the insurer aligned itself with Samsung Group’s New Management program, which emphasized quality, operational reform and global competitiveness. The company announced a second foundation in October 1993 and changed its corporate name to Samsung Fire & Marine Insurance in December. It expanded its overseas network through offices and subsidiaries in Tokyo, Beijing, Indonesia, Vietnam, China, the United States, Brazil, Europe, India and the Middle East. Its Indonesian joint venture, established in 1997 with Tugu Insurance, became an early example of the company’s overseas expansion. The modern company developed a broad non-life portfolio spanning personal and commercial risks. Important initiatives included the creation of a claims-service subsidiary in 1998, the Samsung Traffic Safety Research Institute in 2001, the Anycar automobile brand in 2002 and comprehensive package insurance in 2003. The insurer continued to invest in online distribution, overseas underwriting, loss-control research, customer-service centers and automobile-insurance technology. It established an overseas reinsurance platform in Singapore in 2012 and opened a global campus and automobile-insurance research center in 2014. The company’s public-facing activities have included road-safety research, financial assistance for families of automobile-accident victims, a guide-dog school established in 1995, disability-awareness programs and environmental measures such as electronic policy documents. Its corporate activities have also included sponsorship of Go competitions and other cultural or sporting programs. In April 2025, regulatory approval was granted for Samsung Fire & Marine Insurance to become a subsidiary of Samsung Life Insurance, its largest shareholder. The company continues to operate as an active listed South Korean non-life insurer.

• 2025

  Approved as a Samsung Life Insurance subsidiary

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Approval was granted for Samsung Fire & Marine Insurance to become a subsidiary of Samsung Life Insurance.

• 2012

  Establishes Samsung Re

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  The company established Samsung Re in Singapore to support reinsurance activity.

• 2009

  Expands online automobile insurance

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Samsung Fire & Marine Insurance launched an internet-based automobile-insurance service.

• 2002

  Launches Anycar

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  The company introduced Anycar as its automobile-insurance brand.

• 2001

  Establishes traffic-safety research institute

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Samsung Traffic Safety Research Institute was established to study transportation and insurance risks.

• 1997

  Enters Indonesia through a joint venture

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  The company participated in the creation of PT Asuransi Samsung Tugu in Indonesia.

• 1993

  Rebrands as Samsung Fire & Marine Insurance

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  The insurer announced a second foundation and changed its corporate name to Samsung Fire & Marine Insurance in December.

• 1989

  Introduces night-time claims service

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  The company opened a customer-service center and launched Midnight Express for night-time motor-accident claims.

• 1984

  Reaches the top of Korea’s automobile-insurance market

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  After motor-insurance market liberalization, the company surpassed Hankuk Motor Insurance in the domestic market.

• 1975

  Initial public offering

  [1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Ankuk Fire & Marine Insurance completed an IPO and was listed on the Korea Stock Exchange in June.

Showing the 10 most recent.

A large, service-led and technology-oriented Korean non-life insurer positioned around reliability, risk expertise, customer convenience and the Samsung corporate brand.

• Automobile insurance · 2002

  Anycar

  Anycar is Samsung Fire & Marine Insurance’s branded automobile-insurance offering, introduced in 2002. It supports the company’s personal motor-insurance business and is associated with the insurer’s claims, roadside-assistance and customer-service capabilities.

• Direct automobile insurance · 2009

  Anycar Direct

  Anycar Direct is the company’s direct and online automobile-insurance channel. It developed from the insurer’s internet-based motor-insurance service and allows the company to distribute policies through digital rather than solely branch- or agent-led channels.

• Personal insurance · 1969

  Long-term insurance

  Long-term insurance became an important part of the company’s portfolio after Korean non-life insurers received authorization to sell long-term and household products in the late 1960s. The category complements automobile and general insurance with longer-duration personal protection and savings-related coverage.

• Commercial insurance

  General insurance

  The general-insurance business covers commercial and enterprise risks, including property, casualty, liability and related forms of business protection. It is a core part of SFMI’s non-life operations and extends the company beyond retail automobile products.

• Marine insurance · 1952

  Marine insurance

  Marine insurance is part of the company’s historical and current property-and-casualty portfolio. The category reflects the insurer’s original fire-and-marine identity and supports coverage for maritime and transport-related risks.

• Package insurance · 2003

  Samsung Super Insurance

  Samsung Super Insurance was introduced in 2003 as a comprehensive package-insurance product. It represented an effort to combine multiple protection needs within one broader offering rather than selling isolated policies.

• Risk-management services

  Enterprise risk management

  SFMI provides enterprise risk-management and loss-control capabilities for corporate customers. Its research and technical activities include transportation safety, risk assessment and the study of insured hazards through specialized institutes and loss-control facilities.

• 2009Electronic policy and environmental initiative

  South Korea

  The company promoted electronic general terms, electronic policies and related paper-reduction measures. Customer discounts were linked to a fund supporting small school-forest projects.

  Outcome. Combined digital-document adoption with environmental activity.

  Source
• 2008Disability-awareness television programming

  South Korea

  SFMI worked with Korean education and disability-focused organizations to produce television drama programming intended to improve young people’s understanding of disability and inclusion.

  Outcome. Annual programming was reported from October 2008.

  Source
• 1995SFMI Guide-dog School

  South Korea

  The company established a guide-dog school to raise and donate guide dogs for people with visual impairments. It became a long-running accessibility and disability-support initiative.

  Outcome. The school continued distributing guide dogs without charge and received recognition as a certified Korean guide-dog institution.

  Source
• 1993Big Love Scholarship

  South Korea

  Samsung Fire & Marine Insurance began supporting children and families affected by fatal automobile accidents, including families of traffic police officers killed in service. The program was conducted with the Korea National Police Agency and provided educational assistance.

  Outcome. Ongoing social-support program reported in the company’s historical materials.

  Source
• World Baduk Masters Championship

  International

  Samsung Fire & Marine Insurance hosted and sponsored an open international Go competition for professional and other qualified players, using the event as a cultural and brand-visibility platform.

  Outcome. The company’s historical materials describe it as an annual sponsorship.

  Source

• 2025

  Approval to become a Samsung Life Insurance subsidiaryM&A

  Background

  Samsung Life Insurance was identified as Samsung Fire & Marine Insurance’s largest shareholder.

  Action taken

  Regulatory approval was granted for SFMI to become a subsidiary of Samsung Life Insurance.

  Aftermath

  The approval increased the formal integration of the non-life insurer into Samsung’s financial-services group.

  Source

• 2012

  Creation of Samsung ReStrategy

  Background

  The company’s international operations created demand for a dedicated reinsurance platform.

  Action taken

  Samsung Re was established in Singapore.

  Aftermath

  The entity supported the insurer’s international risk and reinsurance activities.

  Source

• 2009

  Expansion into online automobile insuranceStrategy

  Background

  Digital distribution offered a way to broaden access to motor insurance and reduce reliance on traditional sales channels.

  Action taken

  The company introduced an internet-based automobile-insurance service, later associated with Anycar Direct.

  Aftermath

  SFMI expanded its direct-sales and digital-service capabilities.

  Source

• 2002

  Launch of Anycar automobile insuranceProduct launch

  Background

  Automobile insurance was a central part of the company’s Korean non-life business.

  Action taken

  SFMI launched Anycar as a dedicated automobile-insurance brand.

  Aftermath

  The brand became a principal consumer-facing motor-insurance offering.

  Source

• 1993

  Second foundation and Samsung rebrandingStrategy

  Background

  Samsung Group’s New Management program called for a stronger focus on quality, systems and global competitiveness.

  Action taken

  The company restructured its management approach, announced a second foundation and adopted the Samsung Fire & Marine Insurance name.

  Aftermath

  The Samsung identity became the basis for subsequent domestic brand development and international expansion.

  Source

• 1963

  Combination of Anbo and AnkukM&A

  Background

  Government-led restructuring encouraged consolidation among Korean non-life insurers during the early 1960s.

  Action taken

  Anbo and Ankuk were combined, with the resulting insurer eventually operating under the Ankuk name.

  Aftermath

  The merger created the principal corporate predecessor of the modern company.

  Source

• 1958

  Samsung acquires Ankuk Fire & Marine InsuranceM&A

  Background

  Ankuk was experiencing weak sales and financial pressure, while Samsung was seeking to develop an insurance business.

  Action taken

  Samsung acquired Ankuk in February 1958.

  Aftermath

  The transaction established the Samsung connection that later led to the Samsung Fire & Marine Insurance identity.

  Source

• 2025

  Samsung Fire & Marine Insurance approved to become a Samsung Life Insurance subsidiary[1]Samsung Fire & Marine Insuranceen.wikipedia.org

  M&A

  The company received approval to become a subsidiary of Samsung Life Insurance, its largest shareholder, strengthening its position within Samsung’s financial-services structure.

• 2012

  Samsung Fire & Marine Insurance establishes Samsung Re in Singapore[1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Other

  The insurer created a Singapore-based reinsurance company to support its international risk and reinsurance activities.

• 2009

  Samsung Fire & Marine Insurance introduces online automobile insurance[1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Product launch

  The company expanded its motor-insurance distribution through an internet-based automobile-insurance service.

• 2002

  Samsung Fire & Marine Insurance launches Anycar automobile insurance[1]Samsung Fire & Marine Insuranceen.wikipedia.org

  Product launch

  The insurer introduced the Anycar automobile-insurance brand as part of its motor-insurance business.

1. 1Samsung Fire & Marine Insuranceen.wikipedia.org
2. 2Samsung Fire & Marine Insurance official websitesamsungfire.com