Korean Re

Ironically, the very same factors which drove the increase in Korean Re’s headline figures such as the increase in the growth of its overseas inward business from China and other emerging markets as well as the increase in its marine hull business, also served to inhibit its underwriting and net profit performance for the 2007/2008 financial year

Two thousand and seven was undoubtedly a good year for the South Korean primary insurance market, which after several years of more or less stagnant growth, not only increased its premium income at the impressive rate of 13.3% to KRW107,788bn, but also generated a record underwriting profit.