Tong Yang Life Insurance Co., Ltd. (082640.KS) engages in the life insurance business in South Korea. The company offers accident compensation insurance, child insurance services, health insurance, critical illness insurance, retirement pension services, pension insurance, savings insurance and asset management services; it provides these products directly, through general agencies and via five business units targeting individuals and families. Tong Yang Life Insurance operates exclusively in the South Korean market within the life and health insurance industry.
Founded in 1989 and headquartered at 33 Jong-ro, Jongno-gu, Seoul, the company functions as a subsidiary of Woori Financial Group Inc. following its acquisition on July 1, 2025, for KRW 1.3 trillion, which also included ABL Life Insurance to expand Woori's nonbanking operations. In October 2024, Tongyang Life expanded its coinsurance agreement with RGA by KRW 150 billion to an existing KRW 200 billion contract, enhancing capital management and reinsurance coverage for asset-intensive solutions. These developments bolster the company's financial structure amid regulatory changes, with annualized return on equity reaching 15% in 2024.