Standard & Poor's upgrades Korean Re’s rating

Standard & Poor's upgraded Korean Re’s financial strength and credit ratings from A- to A. This decision comes following the capital increase achieved by the Korean reinsurer on 21 October.

Henceforth, the group's shareholders’ equity exceeds 2 billion USD. This revaluation, which comes eight years after the reinsurer was awarded an A- rating, is likely to help Korean Re achieve the objectives of its "Vision 2050" strategic plan, providing a more diverse international portfolio.
Today 22% of revenues are generated outside the domestic market; a rate that is poised to climb to 50% in 2050.