Lina Life Insurance Awarded the High Taxpayer's Tower as a Model Taxpayer Company

by Oh Hyungil

Published 03 Mar.2020 13:39(KST)

Lina Life Insurance announced on the 3rd that it received the High Taxpayer's Award in recognition of its contribution to the national finances through tax payments from the National Tax Service.

[Asia Economy Reporter Oh Hyung-gil] LINA Life Insurance announced on the 3rd that it received the High Taxpayer's Tower award in recognition of its contribution to national finances through tax payments from the National Tax Service.

In 2018, LINA Life Insurance surpassed approximately 130 billion KRW in national tax payments and received the 'National Tax 100 Billion Tower' award. As the first foreign life insurance company in Korea, LINA Life Insurance is recording outstanding financial soundness through a differentiated strategy of a product portfolio composed mainly of TM channels and protection-type products.

Additionally, the company explained that the number of policies held ranks 4th following major life insurance companies, and remarkable growth in the number of customers has naturally led to an increase in tax payments.

Over the past five years, LINA Life Insurance has donated about 50 billion KRW, using 3% of its annual net profit for social contributions each year.

Hong Bong-seong, President of LINA Life Insurance, stated, "It is an honor to continuously develop with the help of our customers and to receive such an award," adding, "We will not forget our customers' love and will strive to fulfill our corporate social responsibility as a model taxpayer company through customer-centered management."