South Korea’s Samsung Life Insurance Co. recruited Hyun Sung-chul, vice president of Samsung Fire & Marine Insurance Co., as its new head on Thursday.

He replaces Kim Chang-soo, former head of the country’s largest life insurer under top Samsung Group who offered to resign from the post.

Hyun, 58, has been accredited for his diverse experience in a wide range of businesses from management diagnosis to purchasing, marketing, management support, and insurance operations at Samsung Group units Samsung Life Insurance, Samsung SDI Co., Samsung Card Co., and Samsung Fire & Marine Insurance.

Samsung Life Insurance said that Hyun will be able to give traction to the company celebrating 60th anniversary this year.

Samsung Fire & Marine Insurance promoted Choi Young-moo, head of car insurance business, as its new CEO. Choi, 55, previously headed human resources and business strategy at the non-life insurer.

The CEOs need to be approved by shareholders in respective meetings in March.

By Kim Tae-sung and Lee Eun-joo

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