[THE INVESTOR] Singaporean reinsurance company Asia Capital Re announced on Sept. 22 that it has been granted approval to operate a South Korean branch from Financial Services Commission.

The biggest reinsurance firm in Singapore was established in 2006 and runs branches and offices in Hong Kong, Dubai, Japan, Vietnam and India. It was ranked among the world’s top 50 reinsurers.

Lee Jun-su, former head of Samsung Fire and Marine Insurance’s reinsurance team, has been named to run the South Korean branch.

By Hwang You-mee (glamazon@heraldcorp.com)