KB Life was founded in 2004. It is a joint venture between KB Financial Holding Company and ING. Whilst initial dovelopment of the company was mainly centered around bancassurance, today KB Life is a multi channel life insurer with leading positions in bancassurance and direct marketing and growing positions in tied and general agency channels. Assets as of March 31, 2011 exceeds KRW 4 trillion (approx USD 4 billion).