ABOUT USFounded in 1947, Korea National Insurance Corporation has been operating Life and Non-Life insurance business activities in the Democratic People’s Republic of Korea for over 70 years till today. Headquartered in Pyongyang, a capital city of the DPRK, the Corporation has about 10 provincial insurance branches and over 200 insurance branches in municipalities (districts) and counties across the country. Mainly carrying out an insurance business activity, the Corporation has been conducting a variety of non-insurance business activities as well, including an investment business and the operation of an information technology enterprise. All operational activities of the Corporation are carried out under the guidance and supervision of State Insurance Committee and Insurance Law and Rules of the State. The Corporation is making great efforts to actively contribute to the economic development of the country and the stability and enhancement of people’s living by developing new insurance products and innovatively updating the terms and conditions of insurance coverage in line with the requirement of a developing reality where an economic link between economic sectors is further intensified and the economic construction of socialism is waged with great vigor under today’s environment where an overall development of socialist construction is being pushed ahead. In particular, the Corporation is focused on making all insurance business activity further modern and information-based in line with the trends of insurance development of the world where achievements of up-to-date science and technology including artificial intelligence are being actively introduced. Against the prolongation of a worldwide healthcare crisis the Corporation is making all possible efforts to satisfactorily perform its mission and duty as an insurance organization in promoting the economic development of the country and stabilizing and enhancing people’s living by further actively waging its insurance business activity.
Foundation of the Corporation
Korea National Insurance Corporation was founded in July, 1947 and has been carrying out Life and Non-Life insurance business activities in the DPR Korea for over 70 years.
The Korea National Insurance Corporation takes it as its principal mission to stabilize and improve peoples’ living and to support social economic development through its insurance activities.
The Corporation head office has the operational departments dealing with Life and non-Life insurance operation, as well as insurance branch offices across the country.
Executive Committee of Management
Hong Myong Ryong
Kim Yong Gwon
Ko Su Gil
Kim Chol Yong
NEWSThe Corporation will further widen the range of its overall insurance business including the insurance products newly introduced in recent years to increase the companywide premium income and improve the qualitative aspect of insurance products and thus attain the annual net profit goal by insurance service activity. In addition, the Corporation plans to add and update the functions of insurance business program applications and further perfect the integrated insurance operation management system and electronic insurance service system for the improved scientific, accurate and prompt insurance service.
Welcome to KNIC
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FINANCIALSThe consolidated financial statements of Corporation have been prepared in accordance with the requirements of Accounting Law and its relevant regulation of the DPRK and the accounting principles generally accepted in the country
Following figures show the rapid development of insurance in our country. ( In KPW million )
GWP of Life Insurance
U/Results of Life Insurance
GWP of Non-Life Insurance
U/Results of Non-Life Insurance