Korean Reinsurance Co.

Korean Reinsurance Co., also called Korean Re, is the only homegrown professional reinsurer based in South Korea. In 2024, the company wrote KRW7.9 trillion in gross reinsurance premiums, with 42 percent from overseas. 

History of Korean Reinsurance Co.

Korean Re began in 1963 as the Korean Non-life Reinsurance Corporation. It became a public company in 1978 and changed its name to Korean Reinsurance Company. 

Since then, it has grown into one of the world’s top reinsurers. Other major milestones in its 60+ year history include: 

• 1984: built new company headquarters in Susong-dong, Seoul 
• 1995: established Worldwide Insurance Services in Hong Kong 
• 2002: became the largest reinsurance company in Asia 
• 2006: acquired an A- financial strength rating from S&P 
• 2014: opened Korean Re Underwriting Ltd. at Lloyd’s in London 
• 2017: launched Labuan branch in Malaysia and Dubai DIFC branch 
• 2019: set up Zurich-based Korean Reinsurance Switzerland AG 
• 2020: opened new reinsurance offices in Shanghai and Bogotá 
• 2021: created KoreanRe Insurance Services, Inc. in New Jersey 
• 2023: ranked 13th among the world’s top 40 reinsurers by S&P Global Ratings 

In 2025, Korean Re moved into a new eco-friendly head office in Supyodong. The new building was designed to cut emissions and support smart office systems. 

Reinsurance products and services

Korean Reinsurance Co., a top reinsurer in Asia, offers global cover across life and non-life lines: 

Non-life reinsurance 

• property insurance: includes fire insurance, property all risks insurance, inland floater insurance, and museum insurance 
• engineering insurance: includes contractor’s all risks, erection all risks, machinery, electronic equipment, and civil works coverage 
• marine insurance: includes hull, cargo, and aviation insurance for sea and air transport risks 
• casualty insurance: includes general liability, professional liability, workers compensation, accident, miscellaneous, and guarantee insurance 

Life reinsurance 

• insurance against death: includes term insurance and permanent life insurance
• health insurance: includes critical illness, cancer, and care insurance 
• other insurance: includes accident, juvenile, and coverage for pre-existing conditions 

Korean Reinsurance Co. helps partners manage risks with tailored and trusted protection worldwide. Its reinsurance support keeps clients prepared as natural and business risks become harder to control. 

Culture and core values

Korean Reinsurance Co. builds a work culture focused on ethics, openness, and transparent management. Its people are encouraged to act with responsibility, guided by shared values rooted in trust and fairness. 

Guiding principles 

The company promotes ethical standards through rules that value fair conduct, legal respect, and client-centered care: 

• good faith: treats clients and partners fairly in all business matters 
• fiduciary duty: acts with care and loyalty when managing customer interests 
• customer-first: puts customer needs and satisfaction ahead of profit goals 
• compliance with laws: follows all laws and avoids any illegal or unfair activity 

Korean Reinsurance Co. also aims to protect clients while helping insurance markets grow and build stronger national value. 

Workplace environment and employee well-being

Korean Re provides equal opportunities while supporting growth through performance-based recognition and fair workplace treatment. The company values individual strengths and works to ensure that all employees are treated with fairness: 

• equal opportunity: fair roles based on skills and performance
• diversity and rights: respects employee backgrounds and individual rights 
• capacity building: supports self-growth and job development 
• creative culture: promotes autonomy and original thinking in teams 

Employees are expected to work with ethical care, guided by company values and customer-first thinking. They follow clear duties with fairness, putting client trust and professional integrity at the center. 

ESG approach 

Korean Reinsurance Co. pledged to stop underwriting new coal-related projects starting in 2023. It also donated to support earthquake recovery efforts in Türkiye as part of its social responsibility.  

The firm aims for net-zero by 2050 while promoting resilience through ESG and climate-conscious underwriting. 

The future at Korean Reinsurance Co.

Korean Reinsurance Co. received a higher credit rating due to better capital levels and risk-focused strategies. Its shift away from loss-heavy treaties supports stable earnings and long-term business health. New global segments and steady investment income are expected to fuel its future resilience. 

Korean Re staff joined cleanup drives at rivers and beaches as part of their yearly volunteer work. They used EM mud balls, planted trees, and cleared trash to help local water and air quality. These efforts show the firm’s goal to give back while building a more responsible company culture.