S&P Revised Rating Outlook on Korean Re to "A (Positive)"

S&P Global Ratings upgraded its rating outlook for Korean Re and its subsidiary Korean Reinsurance Switzerland AG from "A (Stable)" to "A (Positive)."

Announced on February 28, the upgrade reflects Korean Re's issuance of subordinated securities, enhanced portfolio diversification, and greater clarity on future profits, coupled with its stable expansion on the international stage.

This marks the first upgrade since October 2014, when S&P raised Korean Re's financial strength and counterparty credit ratings from "A-" to "A". Historically, an upward adjustment by S&P suggests the potential for a credit rating upgrade within 12 to 18 months, raising expectations for Korean Re's rating upgrade.

Korean Re believes the S&P rating outlook upgrade will have profound implications for its business at home and abroad and increase its competitive edge. Based on its high credit rating, Korean Re will continue to gain strong footing in the global market.