Korean Re Celebrates Opening of India Branch, Set to Launch Operations

- Opening ceremony held on January 20 in GIFT City
- CEO Jonggyu Won: “We will grow together with the Indian market and continue our global business expansion”

Korean Reinsurance Company (Korean Re) held an opening ceremony on January 20, 2026, to celebrate the establishment of its India Branch in Gujarat International Finance Tec-City (GIFT City), India’s international financial services hub.

The event brought together approximately 150 distinguished guests to celebrate the launch, including Dongwan Yoo, Consul General of the Republic of Korea in Mumbai, representatives from Indian financial authorities, and key leaders from the local insurance and reinsurance sectors.

At the ceremony, CEO Jonggyu Won said, “India is one of the most important markets in the world, defined by immense growth potential. As a trusted partner, Korean Re will grow together with the Indian insurance market and continue to expand our overseas underwriting portfolio and strengthen our global competitiveness.”

The Indian insurance market currently ranks among the top 10 globally and is widely recognized as one of the world’s most powerful emerging markets. Supported by robust economic growth and financial sector expansion, the market is poised for sustained high growth in the mid-to-long term.

In response to these favorable market dynamics and growth prospects, Korean Re pursued the establishment of its India Branch to build an effective local business platform. Following regulatory approval from the International Financial Services Centres Authority (IFSCA) on November 6, 2025, Korean Re plans to officially commence branch operations in April 2026.

Located in the state of Gujarat, GIFT City has been designated by the Indian government as a special economic zone offering regulatory flexibility and tax incentives to attract international financial institutions and develop into a global financial hub.
With the addition of the India Branch, Korean Re now has a global network of 12 overseas operations, including four subsidiaries, five branches, and three representative offices. Leveraging this expanded global network, the company aims to further strengthen its position in the international reinsurance market.