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Korean Reinsurance to open branch in Switzerland

All News 11:28 January 04, 2018

SEOUL, Jan. 4 (Yonhap) -- Korean Reinsurance Co., South Korea's sole reinsurer, said Thursday it plans to set up a branch in Switzerland next year, in a bid to expand its presence in Europe.

The branch will be set up in Zurich and is scheduled to become operational in June next year, Korean Reinsurance said.

It will be Korean Reinsurance's second branch in Europe, after the company opened one in London.

Korean Reinsurance is currently awaiting final approval from Chinese regulators for the opening of a branch in Shanghai.

Korean Reinsurance expects the branch in Shanghai to become operational during the second half of 2018 or next year.

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