Reinsurance News
Korean Re
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
Korean Re and IRB Brasil Re sign MUO to boost reinsurance cooperation
28th February 2017
Reinsurers Korean Re and IRB Brasil Re have announced that the pair signed a memorandum of understanding (MOU) on February 24th, 2017 in Rio de Janeiro. Korean Re President Won Jong-gyu and IRB Brasil Re President Tarcisio Godoy met at Brasil Re’s headquarters in Rio to sign the MOU, ... Read the full article
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