Samsung Life Insurance is expected to sign a
memorandum of understanding (MOU) with Investment Corporation of
Dubai (ICD) as part of a partnership to sell life insurance in
emerging markets, according to media reports.
Reuters said the partnership would concentrate
on selling life insurance products to the Middle East and North
Africa.
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Samsung Life’s operating revenue was KRW
26.2trn ($22.5bn) for the 2010 financial year, up 1.9% compared to
2009.
Total assets stood at KRW 146trn at the end of
the 2010 financial year, up 10% from 2009.
ICD is a sovereign wealth fund (SWF) that was
incorporated in May 2006 supervise the Dubai government’s
investment portfolio.
