Shinhan Financial Group Confirms Unified Insurance Company Name as 'Shinhan Life'

Cho Yong-byeong, Chairman of Shinhan Financial Group

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[Asia Economy Reporter Jo Gang-wook] Shinhan Financial Group has finalized the name of its integrated group insurance company, launching in July next year, as 'Shinhan Life.'

According to the financial sector on the 29th, Shinhan Financial Group held a 'New Life Promotion Committee' meeting via video conference the previous day and decided to name the group-affiliated insurance company 'Shinhan Life.' The meeting was attended by Chairman Cho Yong-byeong, CEOs and executives of both Shinhan Life and Orange Life, the companies subject to integration, totaling 32 participants.

Before deciding on the name, Shinhan Financial conducted a preference survey targeting approximately 6,500 people, including customers and brand experts of Shinhan Life and Orange Life, professors related to finance, marketing, and management, as well as employees and insurance planners from both companies. After gathering diverse opinions, 'Shinhan Life,' which showed the highest preference, was chosen as the name of the integrated insurance company.

The integrated name 'Shinhan Life' combines 'Shinhan' from Shinhan Life and 'Life' from Orange Life, effectively conveying the meaning of integration between the two insurance companies. It also signifies the ambition to leap forward as a global insurance company based on the strong 'Shinhan' brand.

Following the integration, the surviving corporation was finally decided as Shinhan Life after prior consultations with the holding company, CEOs of both companies, and the board of directors. Until the integrated headquarters is established, both companies will temporarily share the use of 'Shinhan Life L Tower' and 'Orange Center.'

Chairman Cho Yong-byeong stated at the meeting, "The newly launched 'Shinhan Life' will combine the strengths of both companies to provide various services that enhance the overall value of customers' lives." He added, "Please ensure thorough efforts in the integration process to strengthen product competitiveness by supplying diverse customer-centered products and to further improve customer management services through digital innovation."

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