Korean Re has been assigned an Insurance Financial Strength Rating (IFSR) of A1 with a Stable Outlook by Moody’s Ratings, one of the world’s three major credit rating agencies. This marks the company’s first credit rating issued by Moody’s Ratings.

In its press release dated May 16, Moody’s Ratings stated that Korean Re has established a solid position in the global reinsurance market, underpinned by more than 60 years of operating history. The A1 rating with a stable outlook reflects the company’s strong market position, sound capital adequacy, and financial resilience.

Moody’s also highlighted several additional factors in its assessment, including:
1. the company’s ability to maintain a robust risk profile through active portfolio management;
2. its leading position in the domestic market and the stable growth potential of its overseas business; and
3. the effectiveness of its comprehensive retrocession program, which significantly reduces net catastrophe losses relative to capital.

The A1 (Stable) rating is equivalent to an A+ rating under S&P’s scale and places Korean Re on par with several top-tier global reinsurers ranked among the world’s top ten. In addition to this newly obtained rating from Moody’s, Korean Re continues to maintain strong credit ratings from other major agencies, including an A (Positive) from S&P and an A (Stable) from A.M. Best.

Commenting on the achievement, Korean Re CEO Jong-Gyu Won stated, “Receiving an A1 (Stable) rating from Moody’s as our inaugural rating is a clear acknowledgment of our risk management capabilities and global competitiveness. We will continue to strengthen both profitability and financial soundness in a balanced manner as we pursue our vision of becoming a top-tier global reinsurer.”