Korean Re Received a First-Time Insurance Financial Strength Rating of A1 (Stable) from Moody’s Ratings

Korean Re has been assigned an Insurance Financial Strength Rating (IFSR) of A1 with a Stable Outlook by Moody’s Ratings, one of the world’s three major credit rating agencies. This marks the company’s first credit rating issued by Moody’s Ratings.

In its press release dated May 16, Moody’s Ratings stated that Korean Re has established a solid position in the global reinsurance market, underpinned by more than 60 years of operating history. The A1 rating with a stable outlook reflects the company’s strong market position, sound capital adequacy, and financial resilience.

• the company’s ability to maintain a robust risk profile through active portfolio management;
• its leading position in the domestic market and stable growth potential of its overseas business; and
• the effectiveness of its comprehensive retrocession program, which significantly reduces net catastrophe losses relative to capital.

The A1 (Stable) rating is equivalent to an A+ rating under S&P’s scale. Korean Re also maintains strong credit ratings from other major agencies, including an A (Positive) from S&P and an A (Stable) from A.M. Best.

Korean Re Relocates Headquarters to Signature Tower

Korean Re has relocated its corporate headquarters for the first time in four decades. From April 11 to 13, the company successfully completed the transition to Signature Tower, situated near Cheonggyecheon in central Seoul.

In the lead-up to the move, Korean Re commemorated its 62nd anniversary on March 19 by organizing a company-wide group photo in front of the Susong-dong building, capturing a symbolic and historic moment for the company.

Korean Re’s New Employee Volunteer Group Builds Disaster-Resilient Housing in Indonesia

From February 16 to 21, Korean Re’s volunteer group carried out a housing construction initiative in Indonesia as part of its corporate social responsibility program. The overseas volunteer team, comprising 13 employees - including 10 newly hired staff - and 2 coordinators from Habitat for Humanity Korea, participated in reconstruction efforts in Tangerang, Indonesia.

The homes incorporated structural features intended to improve resilience against earthquakes and floods, as well as rainwater storage systems and energy-efficient ventilation adapted to local conditions.

Korean Re Hosts Client Reception in Bogotá

On April 3 (local time), Korean Re held a cocktail reception near its local office in Bogotá, Colombia. The event commenced with opening remarks by Korean Re CEO Jong-Gyu Won and was attended by more than 50 guests, including representatives from the local insurance industry and financial authorities.

Since its establishment in February 2020, Korean Re’s Bogotá office has served as a strategic hub for operations across Latin America and the Caribbean. The reception was organized to further solidify Korean Re’s presence in the regional insurance market and strengthen relationships with local partners.

As of 2023, the Latin American insurance market is valued at approximately USD 200 billion and has recorded a growth rate exceeding 10% over the past five years. Korean Re plans to actively pursue further expansion in the Latin American market and diversify its global portfolio.