istock-538324564_ridofranz-1
iStock/ Ridofranz
16 July 2019Insurance

Munich Re appoints new leader of life and health in Korea from Chubb

Munich Re has hired Kyungsuk Lee as new head of life and health business in Korea. He was most recently CFO at Chubb Life Korea Insurance and has worked for direct insurance companies in the US and Korea for over 15 years.

Lee’s hiring is part of Munich Re Korea’s leadership transition, with head of life and health in Korea Soobum Lee retiring in September-end.

Lee will take on the role of head, life and health, Korea in due course, while Soobum will move into a new position within Munich Re as a senior advisor until the end of 2020 when his full-time retirement takes effect.

Lee will report to David Hughes, Munich Re’s managing director, life & health for South East Asia, South Asia, Korea and Japan.

Hughes said: “Munich Re has a long-standing presence in Korea, and the market is important to us. With Kyungsuk joining Munich Re, we have attracted a very capable candidate with a strong track record in the insurance industry to continue leading our Life and Health business and build on the strong relationships and delivering quality service to our clients and the industry in Korea. This overlap will facilitate a smooth transition and ensure clients receive the same quality of service from Munich Re.”

“Following a distinguished career in the insurance industry, including more than 20 years of service at Munich Re, I would also like to thank Soobum for his significant contribution to Munich Re and the broader insurance industry in Korea,” he added.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

International Re launches first re/insurance solution for mid-sized captives
The company claims to offer a "market changing product" that has traditionally been available only for large captives.

Ogden discount rate ‘just a bump in the road’, says ratings agency
Insurers will have to strengthen reserves but the new discount rate is likely to add only a point or two to the sector's combined ratio in 2019.

Hudson Structured leads Series B funding round for QBE-backed insurtech
RiskGenius has expanded its partnerships with three global insurers - Everest, FM Global and Liberty Mutual.

AssuredPartners snaps up broker Hettle Andrews for UK expansion
The acquisition is a part of AssuredPartners' strategy to expand its presence in the UK regional retail broker market.

Fidelis Group names senior claims manager
The executive will provide additional leadership to FCS and will be based in Louisiana.

Save £600 with the Intelligent InsurTECH Europe Super Early-Bird rate:  Book now

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
25 June 2019   German reinsurer Munich Re has partnered with re/insurance industry consortium Geospatial Intelligence Center (GIC) to provide insurers with access to automated damage classification analytics, helping them recover quickly after major catastrophes.
Insurance
5 June 2019   Risk managers wondering how underwriters use their data to rate and review risks—and then set their rates—were given a behind-the-scenes look at how Munich Re does it, although Airmic 2019 workshop leader James Cleaver, a corporate insurance partner at the German firm, was careful not to give away all the reinsurer’s secrets.