KOREAN RE CLEARED TO OPEN OFFICE IN BOGOTA

Korean Reinsurance has received regulatory approval to open a representative office in Bogota to serve as a platform to boost growth in the Latin American and Caribbean markets. The new office will open during the first half of 2020, initially underwriting property, casualty and bouquet treaty lines. Korean Re said the operation will eventually expand into life, facultative and other lines. The company’s announcement of the Bogota operation comes a month after it disclosed that it had received the green light from Chinese regulators to open a branch office in Shanghai to serve as the centre of its operations in China.