ABL Life Insurance

What ABL Life Insurance does

ABL Life Insurance (ABL생명보험) is a South Korean life insurance company headquartered at ABL Tower, 147 Uisadang-daero, Yeongdeungpo-gu, Seoul. Originally established in 1954 and formerly known as Allianz Life Insurance Korea (rebranded to ABL Life in 2017), the company was acquired by Woori Financial Group in 2025 as part of the holding company's diversification strategy into non-bank insurance operations. ABL Life is currently in the process of merging with Tongyang Life Insurance — also owned by Woori Financial Group — with the combined entity targeted to launch as early as late 2026.

The company provides a comprehensive insurance product suite spanning whole life and term life coverage, annuity and savings products, health and accident insurance, children's insurance, and variable universal life products. Distribution operates through a multi-channel model that includes dedicated insurance consultants (설계사), an online internet insurance platform (online.abllife.co.kr), a customer self-service cyber center (cyber.abllife.co.kr), physical branch offices, bancassurance partnerships within the Woori Financial Group network, and a group/corporate insurance line for enterprise clients. The customer base is primarily individual consumers across life stages, with a secondary corporate segment for employee group coverage.

ABL Life generates revenue through recurring insurance premium collection across its product lines. The company holds several certifications, including Consumer-Centric Management (CCM) from the Fair Trade Commission, Family-Friendly Enterprise certification from the Ministry of Gender Equality and Family (originally 2017, re-certified 2020), and WA Web Accessibility Quality Certification from the Ministry of Science and ICT (valid 2025.8.1–2026.7.31). Recent product launches under the unified "Woori WON" brand — including a no-surrender-refund cancer product (February 2026) and a full-anesthesia surgery product (January 2026) — reflect alignment with the parent's brand consolidation strategy. Woori Financial Group's acquisitions of ABL Life and Tongyang Life pushed the parent's Common Equity Tier 1 ratio to 12.08%, the lowest among South Korea's four major financial holding companies, triggering capital restructuring including asset sales to restore the ratio to 13%.

Name

ABL Life Insurance

Legal name

에이비엘생명보험(주)

Website

https://abllife.co.kr

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

ABL Life Insurance (ABL생명보험) is a South Korean life insurer operating as a subsidiary of Woori Financial Group, providing life, health, pension, savings, variable, and internet insurance to individual consumers and corporate clients through multi-channel distribution, and currently merging with Tongyang Life Insurance.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Basic Group Term Life (Employer-Paid) (FSAIADAA)

Keywords

• Life insurance products
• Health and accident insurance
• Pension and savings insurance
• Bancassurance distribution
• Internet insurance platform

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premiums: ABL Life Insurance generates revenue through collection of insurance premiums from policyholders across various product lines including life insurance, health/accident insurance, pension/savings insurance, children's insurance, variable insurance, and internet insurance products

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

ABL Life Insurance sells life, health/accident, pension/savings, children's, and variable (investment-linked) insurance products to individual consumers and corporate clients in South Korea. Products are distributed through licensed insurance consultants, an internet insurance platform, the Cyber Center self-service portal, branch offices, and bancassurance partnerships within the Woori Financial Group network. The offering also includes insurance contract loans, housing mortgage loans, and corporate employee guarantee loans linked to insurance policies.

Product overview

ABL Life Insurance operates as a life insurance company under Woori Financial Group, offering a broad portfolio of insurance products across multiple categories including whole life, term life, annuity/savings, health/accident, children's, variable investment-linked, and internet-distributed insurance. The company distributes its products through online channels (internet insurance, cyber center), traditional agents, and bancassurance partnerships. Recent products are branded under the unified 'Woori WON' line following its acquisition by Woori Financial Group. A merger with Tongyang Life Insurance is in process, with completion targeted for late 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Whole Life / Term Insurance Products (종신/정기 상품) Whole life and term life insurance products, including whole life, term life, and integrated whole life CI insurance offerings providing death and protection coverage for individual policyholders.
• Pension / Savings Products (연금/저축 상품) Annuity and savings insurance products, including pension savings, variable annuity, and retirement insurance offerings that help individual customers accumulate retirement funds and provide retirement income.
• Health / Accident Insurance Products (건강/상해 상품) Health and accident insurance products covering illness, cancer, hospitalization, surgery, and medical expenses for individual policyholders.
• Children's Insurance Products (어린이 상품) Insurance products designed for children, providing coverage tailored to children's protection, education, and welfare needs for parents.
• Variable Insurance Products (변액 상품) Variable universal life insurance products with investment-linked features that allow policyholders to invest premiums in funds.
• Internet Insurance (인터넷보험) Online insurance products available through the internet channel, offering quick and easy insurance enrollment for essential coverage needs for individual consumers.
• Group Insurance (단체보험) Corporate employee group insurance products covering groups of employees under a single master policy, designed for corporate welfare programs and employee benefits.
• Bancassurance (방카슈랑스) Insurance products distributed through bank channel partnerships, particularly within the Woori Financial Group network, allowing bank customers to purchase insurance products at bank branches.
• Insurance-Linked Loan Products (대출상품) Insurance contract loans, housing mortgage loans, and corporate employee guarantee loans linked to insurance policies for individual policyholders and corporate clients.
• ABL Life Cyber Center (ABL생명 사이버센터) Online self-service portal enabling existing customers to view contract details, change personal information, apply for insurance loans, pay premiums, change funds, and file insurance claims.
• (무)우리WON인터넷정기보험 (Woori WON Internet Term Insurance) Internet term insurance product providing essential death coverage for families, with a non-smoker premium discount benefit for those who have not smoked in the past year. Part of the Woori WON product line.
• (무)우리WON건강N더보장종합보험 (해약환급금 미지급형) (Woori WON Health N Comprehensive Insurance, no-surrender-refund variant) Comprehensive health insurance allowing customers to select and design only the coverage they need. Part of the Woori WON product line, offered without surrender refund.
• (무)우리WON톡톡푸른여성건강보험 (Woori WON TokTok Pure Women's Health Insurance) Women's health insurance product covering essential health needs specific to women across their lifetime, under the Woori WON product line.
• (무)우리WON더담은암보험 (해약환급금 미지급형) (Woori WON Deo-Dam-Eun Cancer Insurance, no-surrender-refund variant) Cancer insurance product under the Woori WON product line, offering cancer coverage with no surrender refund upon policy termination.
• (무)우리WON전신마취수술보험 (해약환급금 미지급형) (Woori WON Full-Anesthesia Surgery Insurance, no-surrender-refund variant) Full anesthesia surgery insurance product under the Woori WON product line, covering full anesthesia surgical procedures with no surrender refund upon termination.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Tongyang Life InsurancecoreStrategic or Co-development Partner · 16 March 2026Woori Financial Group is in the process of merging Tongyang Life Insurance Co. and ABL Life Insurance Co., with the combined entity expected to launch as early as late 2026. The merger aims to create a stronger non-bank insurance operation as the fourth-largest financial group seeks to diversify revenue streams beyond traditional commercial banking.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Shinhan Life Insurance: Life insurance arm of Shinhan Financial Group, distributing through Shinhan Bank's nationwide branch network. Directly comparable to ABL Life as a bank-affiliated Korean life insurer with overlapping product lines.
• Hanwha Life Insurance: Top-three Korean life insurer offering a similar product mix (life, health, pension, savings, variable) through agency and bancassurance. Direct head-to-head competitor with ABL Life for Korean consumer life insurance share.
• Kyobo Life Insurance: Major Korean life insurer with broad life, health, and retirement products plus a strong bancassurance and agency distribution model. Comparable to ABL Life in target customer (Korean individuals) and product breadth.
• Heungkuk Life Insurance: Korean life insurer offering life, health, annuity, and variable products to individual and corporate customers. Comparable peer in product scope and target Korean consumer segment.
• DB Life Insurance: Mid-sized Korean life insurer with focus on protection, health, and retirement products. Comparable to ABL Life in scale and product portfolio, competing for similar bancassurance and agency channels.
• Mirae Asset Life Insurance: Korean life insurer within the Mirae Asset Financial Group, with strength in variable and investment-linked insurance products. Direct competitor for ABL Life's variable insurance (변액) line and bancassurance distribution.
• Samsung Life Insurance: Largest life insurer in South Korea and the dominant force in the Korean life insurance market. Directly competes with ABL Life across whole life, health, annuity, and variable insurance products, with a far larger agency force and balance sheet.
• LINA Life Insurance: Korean life insurer (formerly ING Life Korea) focused on protection, health, and retirement products with strong digital channels. Comparable peer given similar digital distribution orientation and product mix.
• KB Life Insurance: Life insurance subsidiary of KB Financial Group, one of Korea's largest banking conglomerates. Direct comparable given bancassurance-led distribution model and product overlap with ABL Life.
• Tongyang Life Insurance: Korean life insurer (formerly Dongyang Life) being merged with ABL Life under Woori Financial Group in 2026. Closest direct peer given identical product mix, customer base, and post-merger integration into the same parent platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCfqKs7JWKX7yHBk-RueYlMA
• Facebookfacebook.com/korea.abllife
• Instagraminstagram.com/korea.abllife
• LinkedInlinkedin.com/company/abl-life-insurance-co.-ltd.

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ABL Life Insurance