Global reinsurance broker Gallagher Re has appointed MJ Sung as Divisional Director of its Korea team.
“MJ brings 18 years of extensive experience across the insurance and reinsurance industry. His broad industry background will support the growth of the Gallagher Re FAC team,” the firm said alongside news of the appointment.
Sung’s placement marks another step forward in Gallagher Re’s Korea expansion, following the firm’s appointment of Chulmin Jang as CEO for the region late last year.
Chulmin holds deep market experience, having held senior positions at Korean Re, where he most recently served as Executive Managing Director.
In related news, at the April 1 renewals in India, Gallagher Re reported broad softening of risk-adjusted rates across the majority of lines and treaties in the country’s property segment.
Loss-free and well-performing programmes achieved average rate reductions of between -10% and -15%.
