K N I C

ABOUT US Founded 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

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.

Mission

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.

Structure

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

Mr.Hong Myong Ryong has been working with the Corporation since 1993 and directing its general management as the ECM Chairman since 2014.

Hong Myong Ryong ECM Chairman

Mr. Kim Yong Gwon has been working with the Corporation since 1999 and as an ECM member directing the insurance business activity of the Corporation for Rason Economic Trade Zone, newly developed economic zones and foreign entity-invested enterprises.

Kim Yong Gwon ECM Member

Mr. Kim Chol Yong has been working with the Corporation since 1999 and as an ECM member is in charge of corporate financial accounting and auditing.

Kim Chol Yong ECM Member

Mr. Kim Myong Chol has been working with the Corporation since 2013 and as an ECM member directing the insurance business activity of the insurance branch offices of provinces, cities(districts) and counties.

Kim Myong Chol ECM Member

Mr. Kim Song Rim has been working with the Corporation since 2014 and as an ECM member is responsible for organizing and managing the investment business activity of the Corporation.

Kim Song Rim ECM Member

Welcome to KNIC

We will always be with you as a kind and benign friend.

FINANCIALS The 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.

GWP 43 041

Net Worth 137 984

Net Profit 6 944

In KPW million

TYPICAL FIGURES

Following figures show the rapid development of insurance in our country. ( In KPW million )

18,763

GWP of Life Insurance

1,944

U/Results of Life Insurance

24,278

GWP of Non-Life Insurance

10,128

U/Results of Non-Life Insurance

Address

Central District, Pyongyang DPR Korea

TEL

850 2 18111/222 ext: 3418024

E-mail

knic.re.dept@silibank.net.kp

K N I C

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