SEOUL, Sept. 3 (Yonhap) -- South Korean reinsurer Korean Reinsurance Co. (Korean Re) said Friday it ranked 10th in the world in terms of premium income in 2020.
A report by global insurance credit appraiser A.M. Best showed Korean Re's reinsurance premiums standing at US$7.78 billion last year, the 10th largest among global players.
Korean Re's 2020 global ranking was up one notch from 11th the previous year.
Munich Reinsurance of Germany ranked first, followed by Swiss Re, Hannover Re and SCOR.
Korean Re said its global ranking moved up one spot last year as it has further bolstered its overseas operations over the last several years.
The company has increased its overseas hubs to 12 from six over the past six years, with the proportion of its overseas insurance premiums rising to 26 percent last year from 21 percent in 2015.
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