Starr Insurance Receives License to Sell Commercial Insurance Across South Korea

Starr Insurance reported that South Korea’s Financial Services Commission has granted Starr International Insurance (Singapore) Pte. Ltd., Korea branch, a license to operate in Seoul and begin selling commercial property/casualty insurance throughout Korea.

“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,” said Phil Finley, president of Starr Asia Pacific, in announcing the approval.

Paul Choi was named chief executive officer of Starr’s Korea branch in May 2024. He has more than 30 years of insurance experience with brokers and carriers.

Starr Insurance is a marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Co., Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr has a presence on six continents and through its operating insurance companies, Starr provides property, casualty, and accident and health insurance as well as specialty coverages including aviation, marine, energy and excess casualty insurance.

Starr’s insurance company subsidiaries are domiciled in the U.S., Bermuda, China, Hong Kong, Malta, Singapore, Switzerland and U.K.

Topics
Commercial Lines
Business Insurance