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The Insurance and Reinsurance Practice Group represents a number of major foreign and domestic insurance companies and reinsurance organizations. The Practice Group offers its clients with a comprehensive approach to the corporate regulatory and legislative issues affecting the insurance business. The Practice Group regularly advises on insurance policies and products, claim administration, negotiation and defense, and reinsurance treaties. In addition, the Practice Group has, in close cooperation with other specialists of the Firm, assisted insurer clients in a wide range of corporate transactions, including mergers and acquisitions and joint ventures, as well as issues of commercial lending and other financial services.
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As an important supplement to its advice and assistance to private clients, the Practice Group also advises the Financial Supervisory Service, which is the government agency having primary oversight over the insurance industry in Korea, on certain aspects of policy-making.
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The members of the Practice Group enjoy a large reserve of experience in providing in-depth advice on all aspects of the insurance business in Korea, as well as in restructuring insurance companies. The Firm recently handled, on behalf of the Korean government, a restructuring project involving seven life insurance companies, which was the largest-scale restructuring of its kind in Korea, and the Practice Group has also assisted, and continues to assist, several multinational life insurance companies in their mergers and acquisitions in Korea.
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