Reinsurance News
Korean Re
Korean Re and Shinhan Life sign coinsurance agreement
3rd March 2022
Korean Re has entered into a coinsurance agreement with Shinhan Life. The agreement between the two firms will see Korean Re work with Shinhan Life to help the latter manage its assets and liabilities. According to Korean Re, it will lead to individual transactions collectively worth up to KRW 500 billion ($414m). Korean ... Read the full article
Korean Re partners with healthcare insurtech Leapstack
20th April 2021
Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market. Leapstack, which has already partnered with several of Korea’s largest insurers, aims to provide big data AI solutions for commercial insurance companies and social security management agencies. In ... Read the full article
Korean Re names Michael Hinz as CUO of Swiss subsidiary
8th April 2021
Michael Hinz has been promoted to Chief Underwriting Officer (CUO) of Korean Re Switzerland and will also join the Executive Management of the reinsurer's Swiss subsidiary. In his new role, Hinz takes on responsibility for building Korean Re's European hub. He joined the firm in 2019 as Deputy CUO, and has ... Read the full article
Korean Re Switzerland expands reinsurance business at 1/1
17th February 2021
Korean Re Switzerland, the Zurich-based subsidiary of Asian reinsurer Korean Re, has reported an expansion of its reinsurance business at the January 1 renewals. The company saw profitable growth in business as well as further diversification of its portfolio, both geographically and by line of business. In addition to its property offerings, ... Read the full article
Carlyle and Korean Re partnering on co-reinsurance
5th August 2020
According to reports in the Korean press, private equity company, Carlyle Group, has joined hands with Korean Re, the largest reinsurer in South Korea, to partner as co-reinsurance providers. This will make the companies the first co-reinsurance providers in a market estimated to grow to 60 trillion won to 100 trillion ... Read the full article
JC Partners could challenge Korean Re with KDB Life takeover: reports
7th July 2020
Following reports that JC Partners has been selected as the preferred bidder for a takeover of KDB Life in Korea, there has been speculation that the private equity firm could challenge Korean Re’s dominant market share. According to the The Korea Times, its possible that JC Partners could seek to change ... Read the full article
Korean Re to open Colombia office, reports
20th February 2020
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. According 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 ... Read the full article
Korean Re Switzerland grows portfolio by over 50% at first renewal
23rd January 2020
Korean Re Switzerland, the Zurich-based subsidiary of Asian reinsurer Korean Re, has announced the successful completion of its first reinsurance renewal on the 1st of January, 2020. The Seoul-based reinsurer established its European subsidiary as part of a push to expand in the region. The new entity was licensed to ... Read the full article
Korean Re sets up second branch in China
15th January 2020
Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has continued to accelerate its overseas expansion with the establishment of a branch in Shanghai. The new office is the second location in China for Korean Re, which previously set up operations in Beijing in 1997. The reinsurer explained that the new branch would ... Read the full article
Korean Re’s Swiss branch opts for Synergy2 platform from Eurobase
8th October 2019
Korean Re Switzerland, the recently established Swiss subsidiary of the Seoul-based reinsurer, has selected the Synergy2 platform from Eurobase to support its end-to-end reinsurance operations. The reinsurer set up its branch in Zurich in June 2019 as part of a push to expand into the European reinsurance market. Eurobase is an ... Read the full article
Korean Re’s Swiss branch obtains strength rating of A from S&P
5th July 2019
Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has announced that its recently established branch in Switzerland has obtained long-term issuer credit and financial strength ratings of ‘A’ from S&P Global Ratings. The Zurich-based subsidiary, called Korean Reinsurance Switzerland AG, was licenced to start reinsurance business from June 1, 2019. Korean ... Read the full article
Korean Re sets up Swiss reinsurance branch
17th May 2019
Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has established a new branch in Zurich, Switzerland, as part of a push to expand into the European market. The subsidiary, called Korean Reinsurance Switzerland AG, is licenced to start reinsurance business from June 1, 2019, the company disclosed. It will be led by ... Read the full article
Korean Re’s dominance challenged as regulators authorise new reinsurers
8th June 2018
South Korea’s financial authorities have decided to authorise new reinsurers in a move that could challenge the dominance of Korean Re, according to Business Korea. The Financial Supervisory Commission (FSC) announced that it would lower the barriers of entry to Korea’s reinsurance market in order to encourage new players and revitalise ... Read the full article
Korean Re to establish Zurich office as hub for European expansion
4th January 2018
The only reinsurance company from South Korea, Korean Re, is reportedly looking to open a branch in Switzerland, as the company looks to grow into the European market. Korean Re already has a base at Lloyd's of London, but the new Swiss hub, which is expected to be established in Zurich, ... Read the full article
Fitch expects Asian reinsurers to increase use of debt capital
8th August 2017
Fitch Ratings expects the Asian bond market to gain traction in the near to medium term as the persistent low-interest rate environment fuels reinsurers in the region to look at debt capital over equity funding. The majority of reinsurance companies across Asia are equity-funded, but in a low-interest rate environment, which ... Read the full article
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