[Alpha Biz=(Chicago) Reporter Kim Jisun] Vice Chairman Kim Jung-nam (photo), who has led Dongbu Insurance for 13 years and is considered one of the leading long-term CEOs in the insurance industry, will step down at the end of this year.
Dongbu Insurance will be converted to the new CEO system of Jeong Jong-pyo, who was appointed last year.
Dongbu Insurance recently announced that Kim Jong-nam will resign as an in-house director on the 23rd for personal reasons. With his fifth consecutive term in 2021, Vice Chairman Kim's term will be until March next year, but he will retire a year earlier. Kim joined Dongbu Express in 1979 and moved to Korea Automobile Insurance in 1984. He has served as CEO since 2010 after serving as vice president of Moon.
Vice Chairman Kim is considered to have contributed to the growth of Dongbu Insurance into a major domestic property insurance company by achieving all-time performance. The total asset, which was 12 trillion won in 2009 before Vice Chairman Kim took office, grew 4.8 times to 50 trillion won at the end of last year. Annual net profit rose 317% from 234.9 billion won to 980.6 billion won over the same period. In particular, net profit hit a record high last year as insurance operating profit and loss improved significantly.
Vice Chairman Kim will step down from his post as CEO, but he will retain his post as vice chairman of the group and oversee insurance businesses such as DB Damage Insurance and Dongbu Insurance.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
