Reinsurance News

Korean Re to open Colombia office, reports

20th February 2020 - Author: Charlie Wood

Seoul-based reinsurer Korean Re has announced plans to open a new office in Bogota, Colombia, as the firm eyes growth opportunities in South America.

korean-re-logoAccording to reports from the Korea Times, the reinsurer recieved approval from local authorities on February 18 to move ahead with the opening.

The company said Colombia is in a strategic location to operate business across Central and South America.

“A base in Central and South America will enable more active pioneering into new markets,” said Korean Re Chief Executive Officer, Won Jong-gyu

“We will continue efforts to overcome the saturated local market and become a top-class global reinsurer.”

The news follows a recent announcement in which Korean Re declared the establishment of a branch in Shanghai.

The new office was the second location in China for Korean Re, which previously set up operations in Beijing in 1997.

Korean Re is the world’s 10th-largest reinsurance company in terms of gross written premiums.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
AEGIS London names Nicola Major as head of delegated authority

Lloyd’s managing agency AEGIS London has announced the appointment of Nicola Major as head of delegated authorities, effective immediately. In...