• Journal of the Korea Academia-Industrial cooperation Society
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• v.21 no.1
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• pp.417-425
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• 2020

In this paper, value relevance of the level of dependence on separate accounts in non-life-insurance companies is studied. As noted by Shim et al. (2015), the separate accounts of insurance companies consist of contracts with different attributes from the general accounts, so it is likely that firm value will vary depending on the insurer's dependence on the separate accounts. Thus, in this paper, an empirical analysis has been conducted using quarterly financial data and stock price data from domestic listed non-life-insurance companies from 2011 to 2018. The analysis shows that variables representing the level of dependence on separate accounts have a significant negative relevance to firm value. These results may suggest that changes in the proportion of a non-life-insurer's separate accounts may result in a change to its firm value under the same net assets and net income scales in aggregate accounts. This study provides management implications for the operation of separate accounts from the perspective of maximizing firm value. In addition, this study suggests that disclosure system improvement would be necessary to more directly report the operational performance of the separate accounts.

• The Journal of the Korea Contents Association
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• v.9 no.5
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• pp.224-229
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• 2009

This study measures the relative efficiency and productivity change of the Korean Non-Life Insurance Firms using DEA model and Malmquist Index for 2004-2007. The main results of this study can by summarized as follows. First, in case of efficiency of CCR for 2004-2007, the number of efficient firms(CCR value is one) are one firm, one firm, one firm, one firm respectively. Second, in case of efficiency of BCC for 2004-2007, the number of efficient firms(BCC value is one) are five firms, five firms, six firms, six firms respectively. Third, In case of return to scale for 2004-2007, DRS are five firms, DRS are five firms, DRS are six firms, DRS are six firms respectively, Fourth, Malmquist Index representing productivity change for 2004-2007 are 0.99 in 2004-2005, 1.04 in 2005-2006, 1.06 in 2006-2007.

• The Journal of the Korea Contents Association
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• v.11 no.12
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• pp.403-412
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• 2011

The execution of capital market law causes severe competition by promoting restructuring of financial industry. This study analyze efficiency and productivity change of the Korean Non-Life Insurance industry between pre-execution and pre-execution of capital market law using DEA model and Malmquist Index. Additionally, this study finds determinants of efficiency using tobit regression. The main results of this study can by summarized as follows. First, the efficiency with post-execution was increased comparing with pre-execution of capital market law significantly. Second, the productivity with post-execution was increased comparing with pre-execution of capital market law significantly. Third, significant determinants of technical efficiency and pure technical efficiency are weight of life planner. operation rate of assets respectively. And significant determinant of scale efficiency are firm size, operation rate of assets, weight of life planner.

• Asia Marketing Journal
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• v.10 no.3
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• pp.103-125
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• 2008

After having changed its corporate brand from LG Fire & Marine Insurance to LIG Non-life Insurance in 2006, LIG Insurance has successfully built the corporate image as the leading insurance financial group by engaging in extensive corporate social responsibility activities. LIG, as 'a partner for sharing precious moments of life', intended to provide customers a new value of an insurance by building up the new corporate brand. It established three values to be shared internally. First was to instill a brand value orientation within the organization. Second, the firm identified the brand's value to be delivered to the customers. Third, they defined the image objective to be communicated to them. Based on these set of objectives, the company designed and implemented an integrated marketing communication(IMC) strategy over several years. The result was a successful transition to the new corporate brand name.