AM Best affirms Korean Re's rating

AM Best has affirmed Korean Re’s Financial Strength Rating of “A” (Excellent) and Long-Term Issuer Credit Rating of “a+,” with a stable outlook.

According to the rating agency, the company delivered solid performance, posting a combined ratio of 91.5% and a return on equity (ROE) of 9.4% in 2024.

Korean Re, South Korea’s only domestic reinsurer, ranked seventh globally in terms of reinsurance revenue under IFRS 17 in 2024.

The ratings also reflect the company’s strong balance sheet, favorable business profile, and sound business risk management.