ANNUAL REPORT 2020

Keep Ahead

Dealing Better with Hard Times to

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Ahead

Look

It is more important than ever for a business to have the ability to see around corners. The coronavirus pandemic has brought about drastic changes in all aspects of our lives and businesses, forcing us to prepare ourselves for the upcoming post-corona era and swiftly adapt to this world of uncertainty. Despite market volatility and business uncertainty throughout 2020, Korean Re has remained steady by delivering on its commitment to providing reinsurance protection to insurers in ways that bring value to our clients and business partners and support our business growth. With a constantly shifting business environment in mind, we will make sure that our business strategies are reviewed regularly to set a direction for our business growth based on our analysis and insight as to how market situations are evolving and where our business should be heading.

ANNUAL REPORT 2020

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Ahead

Think

Another important attribute that a successful company needs to have is being able to think ahead. As a reinsurer, we are always focused on identifying risks beforehand and thinking about how we should respond, that is, what financial, personnel and organizational resources we might need to keep our business competitive and profitable. In this regard, we remain committed to making sure that our risk management is proactive, not reactive.
We also take a proactive approach to our portfolio management based on our capabilities to make assumptions and projections on how the market might develop in the future. Improving our portfolio management capabilities will continue to be an important task for us to steer through future challenges that lie ahead.

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ANNUAL REPORT 2020

Ahead

For Korean Re, 2020 was another year of significant progress in global expansion. In January, Korean Re expanded its global reach by setting up a new branch in Shanghai, China. The new branch in Mainland China will help us strengthen our presence in China and capitalize on the country’s rapidly growing insurance market. In February, we also opened a new representative office in Bogotá, Colombia as our first foothold in Latin America and the Caribbean. Our commitment to expanding into global markets remains solid. Korean Re plans to set up a reinsurance intermediary in the United States to help diversify its offerings to the world’s biggest insurance market. This plan is in line with its global expansion strategy. The reinsurance intermediary will help Korean Re build stronger brand recognition in the U.S. by serving the interests of insurance companies in the U.S. and securing more flexible and creative reinsurance solutions.

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ANNUAL REPORT 2020

Keep Ahead

Dealing Better with Hard Times to

Download PDF

ANNUAL REPORT 2020

It is more important than ever for a business to have the ability to see around corners. The coronavirus pandemic has brought about drastic changes in all aspects of our lives and businesses, forcing us to prepare ourselves for the upcoming post-corona era and swiftly adapt to this world of uncertainty. Despite market volatility and business uncertainty throughout 2020, Korean Re has remained steady by delivering on its commitment to providing reinsurance protection to insurers in ways that bring value to our clients and business partners and support our business growth. With a constantly shifting business environment in mind, we will make sure that our business strategies are reviewed regularly to set a direction for our business growth based on our
analysis and insight as to how market situations are evolving and where our business should be heading.

Ahead

Look

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