Korean Re celebrated its 55th anniversary in 2018, and we envisioned a future where the company thrives to become a 100-year-old enterprise.

We have a clear vision in place to become a value-creating reinsurance leader, and it is this vision that keeps us moving forward.

History of Korean Re

March 19, 1963 Established as a state-owned company, the Korean Non-life Reinsurance Corporation

February 20, 1975 Opened Singapore Liaison Office

March 02, 1978 Reorganized as a publicly owned company, Korean Reinsurance Company

June 26, 1984 Built new headquarters in Susong-dong, Seoul

December 31, 1996 Total assets exceeded KRW one trillion

May 27, 1999 Announced the mid-to-long-term growth plan entitled ‘Vision 2020’

January 04, 2001 Received the 10th Financial Award from M.O.F.E. and the Korea Economic Daily

February 28, 2002 Operating assets exceeded KRW one trillion

May 28, 2002 Received an A- grade from A.M. Best

June 27, 2002 Renamed Korean Re, with the launch of a new Corporate Identity (CI)

October 12, 2002 Became the largest reinsurance company in Asia

October 20, 2002 Nominated as Reinsurance Company of the Year by the Asia Insurance Review Magazine (Singapore)

January 03, 2004 Received the 13th Financial Award from M.O.F.E. and the Korea Economic Daily

November 23, 2005 Received the Most Innovative Management in Korea Award (2005)

December 06, 2006 Acquired an A- rating from S&P

December 31, 2006 Total assets surpassed KRW three trillion

April 08, 2008 Opened Dubai Liaison Office

April 28, 2008 Total assets surpassed KRW four trillion

December 2009 Recognized by Reinsurance Magazine as ‘Emerging Market Player of the Year’

November 2010 Ranked the 11th largest reinsurer in the world and No. 1 in Asia (S&P)

November 2010 Received ‘Young Enterpreneur Award of the Year’ from Ernst & Young

January 01, 2011 Received the Dasan Award

February 2011 Acquired an A rating from A.M. Best

September 2012 Ranked the 10th largest reinsurer in the world and No. 1 in Asia (A.M.Best)

March 19, 2013 Celebrated 50th anniversary

June 17, 2013 CEO Jong Gyu Won was inaugurated

September 2013 Ranked the 9th largest reinsurer in the world and No. 1 in Asia (A.M.Best)

January 02, 2014 Declared ‘Vision 2050’

October 14, 2014 Issued subordinated capital securities worth USD 200 million

October 14, 2014 S&P rating upgraded from A- to A

April 01, 2015 Established Korean Re Underwriting Ltd. at Lloyd’s of London

February 24, 2017 Signed an MOU on business cooperation with IRB Brasil RE

July 01, 2017 Opened Labuan Branch in Malaysia

December 31, 2017 Total assets surpassed KRW ten trillion

January 01, 2018 Opened DIFC Branch in Dubai, the UAE