Kookmin Best Insurance Co.,Ltd. US Branch
KBIC was a commercial insurer for small and mid-sized businesses whose local operations were fully terminated.
- Closed
- Ridgefield Park, NJ, USUnited States
KBIC was a commercial insurer for small and mid-sized businesses whose local operations were fully terminated.
Samsung Fire & Marine Insurance and KB Insurance are reducing or exiting operations in the U.S. market, reversing earlier expansion efforts. Meanwhile, DB Insurance and Hyundai Marine & Fire Insurance are increasing their presence through localized strategies. The U.S. remains a key but competitive destination for Korean insurers seeking overseas growth.
Jun 2026CHOSUNBIZNews article
A New York appellate court temporarily relieves Kookmin Insurance of immediate defense obligations in a liability coverage dispute. The ruling stems from the insurer’s claim that late notice of the claim did not fully absolve it of responsibilities. The case continues as legal proceedings advance.
Jul 2025Insurance BusinessNews article
KB Insurance transfers a **US$100 million loss portfolio** to **Swiss Re**, offloading risk exposure. The deal marks a strategic move to strengthen KB Insurance’s balance sheet amid evolving market conditions. Swiss Re gains access to the portfolio, expanding its reinsurance business in Asia.
Nov 2023InsuranceAsia NewsNews article
Howden Tiger and Swiss Re finalize a strategic loss portfolio transfer for KBIC, a specialist insurer. The deal involves transferring a portion of KBIC’s underwriting risks to Swiss Re, aiming to optimize capital efficiency and support KBIC’s growth. The partnership strengthens KBIC’s ability to underwrite complex risks in the insurance sector.
Nov 2023ReinsuranceNe.wsNews article