Greeting

NongHyup Property & Casualty Insurance Co., Ltd. is a property damage insurance company newly launched in March 2012 by the National Agricultural Cooperative Federation, which has grown together with the farmers for 50 years. The company was established to strengthen its expertise as an insurance company and to provide benefits of insurance to more clients.

NongHyup Property & Casualty Insurance Co., Ltd. will become a company with farmers and clients as its major participants to repay with better products and services and grow together with our clients to promote sound management.

Key Milestones

1961. 08

The National Agricultural Cooperative Federation established through the merger of Agricultural Bank and Agricultural Cooperative

1961. 10

Entered the fraternal fire insurance business

1965. 08

Entered the fraternal life insurance business

1977. 01

Acquired a post office insurance business

1996. 01

Began to offer fraternal casualty insurance for farmers

2001. 03

Began to offer crop insurance

2009. 12

Reached the 30 trillion won mark in insurance assets and 100 billion won mark in net income

2012. 03

Launched NongHyup Property & Casualty Insurance Co., Ltd.

2012. 04

Announced the ‘Vision 2020’

“High-class NongHyup Property & Casualty Insurance together with the happiness of customers!”

2013. 04

Announced the representative brand, ‘Hearim’

2014. 03

Completed construction of next-generation IT system

2015. 04

Certified as an “Excellent call center in Korea” by KSQI

2015. 12

Acquired A.M. Best credit rating (A-, Stable)

Acquired the certification for consumer centered management (CCM)

2016. 05

Certified as an “Excellent call center in Korea” by KSQI

2016. 11

Acquired the right to exclusively use the NH Premier Driver Insurance

2016. 12

Certified as an excellent company by the Korean Standard-Service Quality Index

Acquired A.M. Best credit rating (A-, Stable)

2017. 03

Built the Direct (CM) Mall

2017. 05

Certified as an “Excellent call center in Korea” by KSQI (for three years in a row)

2017. 12

Acquired the (re-) certification of customer centered management (CCM)

Acquired A.M. Best credit rating (A-, Stable)

2018. 06

Acquired the right to exclusively use the ‘NongHyup Dementia & Stroke Insurance’

2018. 08

Introduced biometric authentication/ verification in all areas for the first time in the industry

2018. 12

Acquired A.M. Best credit rating (A-, Stable)

2019. 02

Acquired the right to exclusively use the ‘Bovine Blood Splash Compensation Insurance’

Received the Excellent Enterprise Prize from the Korea Auditor Federation

2019. 04

Designated as the Innovative Financial Service of ‘On-Off Overseas Travel Insurance’

2019. 06

Launched the ‘On-Off Overseas Travel Insurance’

‘Direct Insurance E-coupon Service’ designated as an Innovative Financial Service

2019. 07

Selected as an excellent model case for the insurance company ORSA institution

2019. 12

Launched the ‘Mobile insurance voucher’

2020. 11

Held a ceremony for declaring "Vision 2025 "

2020. 12

Obtained a credit rating from A.M. BEST (Grade A- (Stable) for financial strength)

2021. 01

Won the 30th Gold Dasan Financial Award (insurance sector) Won the Best Institutional Award 2020 by The Institute of Internal Auditors

2021. 02

Formed new ESG Advisory Committee

2021. 05

Selected as an excellent call center for 7 consecutive years by KMAC, based on 2016 Korean Service Quality Index (KSQI)

2021. 10

Joined the UN Principles for Sustainable Insurance (PSI) Received the Grand Prize at the 26th Herald Economy Insurance Awards(digital innovation sector)
Received AA- (Stable) for Insurer Financial Strength Rating (NICE Investors Service)
Received AA- (Stable) for Insurer Financial Strength Rating (Korea Investors Service)

2021. 11

Opened self-assessment and guaranteed rating service 

2021. 12

Won the Grand Prize at the "Web Award Korea 2021" in financial sector
Selected as a "Recognized Company for Local Community Contribution for 2021"
Obtained a credit rating from AM BEST (Grade A- (Stable) for financial strength)

2022. 05

Selected as an excellent call center for 8 consecutive years by KMAC, based on 2016 Korean Service Quality Index (KSQI)

2022. 07

Awarded the Minister's Citation from the Ministry of Health and Welfare on the 23rd Social Welfare Day

2022. 10

Received the Grand Prize at the 26th Herald Economy Insurance Awards(Consumer Protection Award)
Received AA- (Stable) for Insurer Financial Strength Rating (Korea Investors Service)
Received AA- (Stable) for Insurer Financial Strength Rating (NICE Investors Service)

2022. 11

Published 「10-Year History of NongHyup Property & Casualty Insurance」

2022. 12

Selected as a “Recognized Company for Local Community Contribution for 2022”
Obtained a credit rating from AM BEST (Grade A- (Stable) for financial strength)

2023. 02

Received the Minister's Award from the Ministry of Science and ICT in the 2022 ARS Operation Evaluation

2023. 04

Obtained Information Security Management System (ISMS) Certification

2023. 06

Signed an agreement with the Seoul Metropolitan Government to promote urban agriculture
Signed a business agreement with PVI, a Vietnamese non-life insurance company

2023. 10

Received AA- (Stable) for Insurer Financial Strength Rating (NICE Investors Service)
Received AA- (Stable) for Insurer Financial Strength Rating (Korea Investors Service)
Won the 28th Herald Business Award (Product Development Award)

2023. 12

Obtained a credit rating from AM BEST (Grade A- (Stable) for financial strength)
Selected as a “Recognized Company for Local Community Contribution for 2023”

2024. 05

Certified as a KSQI Platinum Call Center in Korea (10 consecutive years)

2024. 09

Selected as a Work-Family Balance Excellent Company by the Presidential Committee on Low Birth Rate and Aging Society

2024. 10

Received AA- (Stable) for Insurer Financial Strength Rating (NICE Investors Service)
Received AA- (Stable) for Insurer Financial Strength Rating (Korea Investors Service)

2024. 12

Obtained a credit rating from AM BEST (Grade A- (Stable) for financial strength)
Selected as a “Recognized Company for Local Community Contribution for 2024”