Korean Reinsurance

What Korean Reinsurance does

Korean Reinsurance Company (Korean Re) is Korea's first and leading reinsurer, founded in 1963 and listed on the Korea Exchange (KRX) since 1969. The company provides treaty and facultative reinsurance across two core segments: Non-life Insurance Reinsurance (covering property, casualty, marine, energy, and motor lines) and Life Insurance Reinsurance (covering protection, savings, and annuity products). Korean Re generates revenue primarily through reinsurance premiums accepted from primary insurers on a contract-by-contract basis, with pricing negotiated through bilateral underwriting rather than publicly disclosed schedules. Its technology backbone centers on regulatory compliance and capital management under the K-IFRS 17 accounting framework and the K-ICS (Korean Insurance Capital Standard) capital regime, rather than proprietary technology products.

The company serves primary insurance companies globally, distributing its products directly through 12 overseas bases — 4 wholly-owned subsidiaries (Switzerland, USA, UK, Hong Kong), 5 branches (Singapore, Shanghai, Dubai DIFC, Labuan, India/GIFT City), and 3 representative offices (Tokyo, Bogotá, London Liaison). Korean Re's competitive position rests on a domestic monopoly-like presence in Korea, strong financial strength ratings (S&P A+, Moody's A1, A.M. Best A), and an expanding international footprint that grew overseas revenue from 22% of the insurance mix in 2014 to 41% by end-2024. The customer base is exclusively B2B (primary insurers), with a hybrid segmentation approach across life/non-life business units and emerging market geographies including India, China, and the Middle East.

Korean Re's go-to-market is enterprise field sales through direct ceding company relationships, supplemented by corporate communications via the Korean Re Bulletin, annual reports, ESG disclosures, and press releases. Recent strategic activity has been heavily weighted toward international expansion (India branch 2026), regulatory positioning (S&P and Moody's rating milestones in 2025), and organizational renewal (HQ relocation to Signature Tower in April 2025). Leadership is headed by President & CEO Won, Jong Gyu (in role since 2024) and Chairman Won, Jong Ik, with a publicly listed ownership structure that includes the National Pension Fund and Shinyoung Securities as notable institutional shareholders.

Name

Korean Reinsurance

Legal name

Korean Reinsurance Company

Website

https://eng.koreanre.co.kr

Company type

Public

Founded year

1963

Operating status

Operating

Headcount range

11–50 employees

Short description

Korean Reinsurance is Korea's first and largest domestic reinsurer, providing treaty and facultative reinsurance for life and non-life primary insurers worldwide through 12 overseas bases and A+ financial strength ratings.

Ownership category

akta.pro rank

Product category

Reinsurance

NAICS

Reinsurance Carriers (524130)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Property Treaty Reinsurance (FSAOAEAC)

akta.pro secondary industries

Life Treaty Reinsurance (FSAOAEAA), Specialty Lines Treaty Reinsurance (e.g., marine, aviation, cyber, energy, surety) (FSAOAEAF), Casualty Treaty Reinsurance (FSAOAEAD), Facultative Specialty Lines Reinsurance (Marine, Aviation, Energy, Cyber, Surety, Political Risk) (FSAOAFAD)

Keywords

• Reinsurance services
• Non-life reinsurance
• Life reinsurance
• Treaty reinsurance
• Facultative reinsurance

Headquarters

HQ city

Mapo

HQ country

South Korea

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Reinsurance Premiums: Korean Re generates revenue primarily through reinsurance premiums from both life and non-life insurance segments. The company provides proportional and non-proportional reinsurance treaties and facultative reinsurance to primary insurers, accepting risk in exchange for premium payments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Korean Reinsurance Company provides treaty and facultative reinsurance to primary insurers worldwide, accepting risk in exchange for premiums. The business is structured into two segments: Non-life Insurance Reinsurance (covering property, casualty, marine, energy, motor, and specialty lines) and Life Insurance Reinsurance (covering protection, savings, and annuity products). Distribution is direct, through a global network of 12 overseas subsidiaries, branches, and representative offices.

Product overview

Korean Reinsurance Company provides reinsurance services through two primary business segments: Non-life Insurance Reinsurance and Life Insurance Reinsurance. The company operates as a global reinsurer with 12 overseas business bases (4 subsidiaries, 5 branches, and 3 representative offices) and serves clients across 27 countries. As an established Asian reinsurer with over 60 years of experience (established 1963), Korean Re offers risk management solutions, underwriting expertise, and financial strength supported by ratings of A+ (S&P), A (A.M. Best), and A1 (Moody's).

Differentiator

Problem solved

Functional benefit

Products and services

• Non-life Insurance Reinsurance
• Life Insurance Reinsurance

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Gujarat International Finance Tec-City (GIFT City)coreOthers · 20 January 2026Korean Re established its India branch in GIFT City, an international financial hub in Gujarat State, India. The company received regulatory approval from IFSCA (International Financial Services Centres Authority) on November 6, 2025, and officially opened the branch on January 20, 2026. GIFT City offers regulatory easing and tax incentives to attract overseas financial institutions.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• SCOR SE: French global reinsurer offering life and P&C reinsurance across treaty and facultative structures. Direct competitor in Asian markets and similar multiline offering.
• Hannover Re: Major German reinsurer active in treaty and facultative reinsurance with strong specialty lines (including marine and aviation) overlap with Korean Re's offering.
• Swiss Re: Global reinsurer with treaty and facultative offerings across life, property, casualty, and specialty lines. Direct peer to Korean Re across virtually all reinsurance product categories.
• PartnerRe: Bermuda-based multiline reinsurer (acquired by Covea) with significant P&C and specialty treaty presence comparable to Korean Re's non-life book.
• Munich Re: World's largest reinsurer offering both treaty and facultative reinsurance across life and non-life lines globally. Directly competes with Korean Re in international treaty placements and is the most relevant scale benchmark.
• RGA (Reinsurance Group of America): Global life reinsurance specialist with significant Asia presence; directly comparable to Korean Re's life reinsurance segment as both underwrite life and health reinsurance treaties internationally.
• Everest Re Group: Bermuda-domiciled reinsurer with strong specialty and treaty presence across property, casualty, and specialty lines including marine and energy — comparable to Korean Re's specialty lines emphasis.
• Toa Reinsurance Company: Japanese reinsurer with similar Asian regional focus and treaty/facultative product offerings; the most direct Japanese peer to Korean Re in the Asian reinsurance market.

Regional players

• Asia Capital Reinsurance Group: Singapore-based regional reinsurer serving Asian insurance markets with treaty and facultative offerings; comparable regional player with overlapping Asian market focus.
• General Insurance Corporation of India (GIC Re): India's national reinsurer, the dominant domestic player in the Indian market that Korean Re is now entering via its GIFT City branch. Comparable in its role as a national/regional reinsurance champion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korean Reinsurance