Specialty P&C insurer AmTrust Financial Services, Inc., has announced that it is expanding its international extended warranty and protection business in South Korea.
AmTrust’s experienced team will be led by Chief Executive Officer, Andrew Kim, who has more than 30 years of experience of working within re/insurance in South Korea, and also specialises in mobile device risks, customer electronics and motor warranty.
The firm has provided reinsurance capacity for major mobile phone insurance programs of South Korean telecom companies since 2016.
In addition, since 2018, AmTrust has also supported the device protection programs of top electronic brands in major Southeast Asian economies, including Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
The company noted that this expansion is part of their strategic objective to grow its established warranty and protection offerings in sizable, high-potential markets, including those in Asia.
“I am delighted to announce the launch of AmTrust Korea,” said Peter Dewey, EVP and Head of International at AmTrust.
“We have grown our presence and capabilities in the consumer lines affinity market in South Korea over the past six years and are now very excited to formalize this operation. We have strong relationships with local insurance and local broker partners in South Korea, and our capable team is committed to providing long-term value to the market.”