AGCS South Korea

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Allianz Global Corporate & Specialty SE
Level 22, Seoul Finance Center
136 Sejong-daero, Jung-gu
Seoul, 04520
Republic of Korea

The AGCS South Korea team has been active in the country since 2010, and in 2017 obtained a license to set up a local branch office in Seoul. Our office in Seoul serves both local and international companies, leveraging our technical expertise and experience in running international insurance programs through our Allianz Multinational service. Over 10% of our global clients have operations in South Korea protected by our programs.

AGCS South Korea offers a range of industrial insurance solutions and services  including Property insurance, Liability insurance, Engineering insurance, Marine insurance, Financial Lines insurance , Entertainment Insurance and risk solutions for small- and mid-sized businesses.

As a branch of AGCS, the office in Seoul benefits from our strong financial ratings and network. The AGCS South Korea team has close ties with our other offices across the Asia Pacific region including AGCS Hong Kong, AGCS India, AGCS Japan, AGCS Pacific and the regional office, AGCS Singapore.

Annual survey identifying business risks

Technology is breeding new threats as well as business models. Traditional risks such as natural catastrophes continue to challenge while other threats such as cyber, neck-and-neck with business interruption at the top of the Allianz Risk Barometer 2019 for the first time, reputational risk, increasing exposure to intangible assets and volatility and consolidation in the corporate environment evolve daily.

Top 3 risks in South Korea in 2019

  1. Business interruption (44%) - 2018 rank: 1 (45%)
  2. Cyber incidents (33%) - 2018 rank: 2 (39%)
  3. New technologies (28%) - 2018 rank: 5 (19%)
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With the Allianz network AGCS provides services in over 200 countries and territories.