South Korea is the world’s 11th largest economy and the 4th largest in Asia. AGCS have been active in this market since 2010. More than 11% of our global clients have operations in South Korea protected under our international insurance programs, and our new on-ground presence in Seoul will allow us to serve both local South Korean and also global companies with South Korean interests much more efficiently.
The South Korea branch is the latest addition to AGCS Asia’s regional footprint which currently includes Singapore, Hong Kong, Japan, China, India, Brunei and Myanmar, supported by network partners in other countries.
The AGCS South Korea branch will focus on serving companies with multinational operations extending beyond the country, leveraging on AGCS’s technical expertise and experience in running international insurance programs. In 2016, AGCS led 2,500 such programs with approximately 19,000 local policies. It will offer a variety of product lines, including Engineering & Construction, Financial Lines, Property, Marine, Mid-Corporate and Liability.