Hyuk Hee Won passed away on 29 March in Seoul, Korea. He became majority shareholder of Korean Re in 1998 and was integral in growing the reinsurer into one of the top 10 reinsurers in the world.
He is survived by three sons and two daughters. Two of his sons hold key positions within Korean Re – his youngest, Jong Gyu Won, is chief executive, while his oldest, Jong Ik Won, is an advisor.
Rating agency maintains is positive view on delegated underwriting authority enterprises segment, as well as for the global reinsurance business.
The (re)insurance broker has estimated firms can reduce the cost of cyber-attack by up to 75% (£30bn) by implementing simple cyber security basics more widely.
Some 80% of risk leaders concerned about their organisations’ emerging-risk resilience in the next decade, according to a new WTW survey.
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