Hyundai Marine & Fire Insurance
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 | |
 Headquarters in Seoul | |
Native name | 현대해상화재보험 주식회사 |
|---|---|
| Company type | Public |
| KRX: 001450 | |
| Industry | Insurance |
| Founded | 1955 |
| Headquarters | , South Korea |
| Website | www.hi.co.kr |
Hyundai Marine & Fire Insurance Co., Ltd. (Korean: 현대해상화재보험 주식회사; Hanja: 現代海上火災保險 株式會社; RR: Hyeondae Haesang Hwajae Boheom Jusik Hoesa) is an insurance company headquartered in Seoul, South Korea. It is one of the largest non-life insurers in South Korea alongside Samsung Fire & Marine, DB Insurance, and KB Insurance.[1]
Hyundai Marine & Fire Insurance was established as Dongbang Marine Insurance in 1955. Hyundai Group acquired Dongbang in 1983 and changed its name to Hyundai Marine & Fire Insurance in 1985.[2] However, due to Hyundai's break up caused by a feud between the group founder Chung Ju-yung's sons, Hyundai Insurance was split from the original Group in 1999. Chung Mong-yoon, the founder's seventh son, took control of the company.[3][4]
Operations
Hyundai Insurance is one of the four domestic insurers that dominates the South Korean non-insurance market.[5] In the global market, Hyundai acquired a 25% interest in Vietinbank Insurance in 2018.[6] The company also formed a joint venture with DiDi Chuxing and Legend Holdings for China market in 2020.[7]
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