HDI Global, a corporate and specialty insurer, has launched a representative office in Seoul, Republic of Korea, marking a significant step in its expansion across the Asia–Pacific region.
The Seoul office is designed to enhance the insurer’s engagement with local brokers, cedents, and clients, capitalising on Korea’s estimated EUR 80bn property and casualty market, according to InsurTech Insights.
A dedicated local team will manage day-to-day relationships while leveraging the group’s regional and global resources, complimenting HDI Global’s existing regional operations in Hong Kong
This move forms part of HDI Global’s wider strategy to pursue profitable growth in markets where it has strong expertise, including infrastructure, renewable energy, and ESG liability. The Seoul office will provide local market access while core underwriting and claims functions remain coordinated from Hong Kong, creating an agile operational model.
Ki Hyung Jo, who has 25 years of experience in the Korean insurance market, has been appointed as Market Lead for Korea. He will oversee local operations, bringing his underwriting and product development experience, along with established connections across the local insurance sector.
David Hullin, member of the HDI Global Executive Board, said, “Korea is a logical next step in our growth agenda. We want to act as clients’ and brokers’ preferred Partner in Transformation thinking globally and acting locally.
“By establishing local proximity and an access point to HDI Global’s worldwide capabilities, we deepen relationships with our partners and accelerate the delivery of bespoke solutions for the specific needs of Korea’s economy at home and internationally. I am very pleased that, with Ki Hyung Jo, we have secured a capable and highly regarded industry expert driving our ambitious growth plans in the region.”
Through the Seoul office, HDI Global will gradually introduce its specialised products, including event-cancellation coverage for major K-pop events and surety bonds for Korean contractors working overseas, while offering the full breadth of the group’s insurance solutions.
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