· Korean Reinsurance Co. (Korean Re) is likely to maintain its gradually strengthened capitalization and be able to withstand severe stress.
· We expect the reinsurer's improved underwriting performance to remain sound with low volatility, supported by its dominant position in Korea.
· We raised to 'A+' from 'A' our financial strength and long-term issuer credit ratings on Korean Re and its core subsidiary Korean Reinsurance Switzerland AG (KRSA).
· The stable outlook reflects our expectation that Korean Re will maintain robust capitalization and sound profitability as it grows overseas business in the next two years.