Starr Insurance has expanded its global footprint by securing a licence to establish a branch in Seoul, South Korea.
This move allows the company to offer commercial property/casualty insurance throughout Korea, marking a significant step in its Asia-Pacific operations.
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Starr International Insurance (Singapore), Korea branch, obtained the licence to commence operations in the country from South Korea’s Financial Services Commission.
Paul Choi, with More than three decades of experience in the insurance sector, was appointed the CEO of Starr’s Korea branch in May 2024. Choi holds an MS in risk management and insurance from Georgia State University.
Starr Asia Pacific president Phil Finley said: “Korea is one of the largest commercial insurance markets in Asia, and Starr has a long history of operating in the region.
“We expect Korea to become a good source of profitable premium growth for Starr over the coming years.”
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By GlobalDataStarr Insurance is the marketing name for Starr International Company’s insurance, travel assistance companies, and subsidiaries as well as for C. V. Starr & Co’s investment business.
The company has a footprint on six continents.
Via its operating insurance companies, it offers a wide array of products including property, casualty, accident and health insurance, as well as specialty coverages such as aviation, marine, energy, and excess casualty insurance.
