May 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Asian News - South Korea: National reinsurer to see record high profits this year

Source: Asia Insurance Review | Aug 2016

Korean Re, South Korea’s sole reinsurer, is expected to see its net profit for this year hit a new high on growing demand for its services.
   A Korean Re investor relations executive said that the company forecasts that its net profit for 2016 would reach KRW190 billion (US$162 million), up 1.9% from last year’s KRW186.5 billion, reported Pulse News.
   Korean Re has been seeing an increase in the number of new contracts with top insurers, after Standard & Poor’s raised its credit rating by one notch to A from A- in 2014. S&P hiked the rating two years ago when Korean Re successfully increased its capital by issuing $200 million worth hybrid securities for the first time.
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.