Samsung Life continues to sell overseas assets

Samsung Life Insurance, South Korea's largest insurer, will continue to sell its international assets as it reduces its risk, says Koo Sung-hoon, head of credit risk management. In mid-2007, the firm had over $10 billion of overseas assets. Today that figure stands at $7 billion. Once the credit crisis began to take hold in the United States, Samsung Life reduced exposures to corporate debt, initially selling subprime mortgage-backed securities and residential mortgage-backed securit…