Corporate and specialty insurance company HDI Global has expanded its presence in the Asia-Pacific region with the opening of a representative office in Seoul, South Korea.
This new presence in one of Asia’s major insurance markets enables HDI to strengthen relationships with local brokers, cedants and customers.
The Seoul office will work with a dedicated team of local experts, working closely with HDI’s Hong Kong branch, to support the insurer’s continued regional growth.
The opening of the Seoul office is part of HDI’s strategic approach to profitable growth, which focuses on areas where HDI Global has a competitive advantage: ESG responsibility, renewable energy and infrastructure.
This opening is in line with HDI’s strategic pursuit of profitable growth. The new office will initially focus on areas where HDI Global has a competitive advantage, including infrastructure, renewable energy and ESG responsibility.
Ki Hyung Jo, a seasoned local insurance professional with 25 years of market experience, has joined HDI Global as head of the Korean market.
The executive has deep expertise in underwriting and product development and strong relationships with brokers, clients and cedents.
David Hullin, member of HDI’s Global Executive Committee, said: “South Korea is the logical next step in our growth agenda. We want to be the transformation partner of choice for clients and brokers alike – thinking globally, acting local.
“By establishing local proximity and access points to HDI Global’s global capabilities, we deepen our relationships with our partners and accelerate the delivery of customized solutions tailored to the specific needs of the Korean domestic and international economies. I am pleased that in Ki Hyung Jo, we have found a capable and well-respected industry expert to drive our ambitious growth plans in the region.”
The new Seoul office is designed to be flexible: local teams manage broker, client and cedent relationships directly in Korea, while core processes such as underwriting and claims continue to be handled by HDI Global Hong Kong.
South Korea is Asia’s main property insurance market, worth approximately 80 billion euros. Through this new office, Korean market participants will have access to HDI’s extensive product range and expertise, and will gradually introduce selected professional solutions.
These solutions include event cancellation insurance for major K-pop events and security deposits for Korean contractors working internationally.
Ki Hyung Jo commented: “I am delighted to join HDI Global at such an exciting time as the company pursues ambitious growth targets. Our local presence in Seoul allows us to provide close support to our Korean customers locally.
“I look forward to working with our global team, especially colleagues in Hong Kong, to provide seamless, high-quality support to Korean companies on their transformation journey.”