Munich Re appoints new leader of life and health in Korea from Chubb

Munich Re has hired Kyungsuk Lee as new head of life and health business in Korea. He was most recently CFO at Chubb Life Korea Insurance and has worked for direct insurance companies in the US and Korea for over 15 years.

Lee’s hiring is part of Munich Re Korea’s leadership transition, with head of life and health in Korea Soobum Lee retiring in September-end.

Lee will take on the role of head, life and health, Korea in due course, while Soobum will move into a new position within Munich Re as a senior advisor until the end of 2020 when his full-time retirement takes effect.

Lee will report to David Hughes, Munich Re’s managing director, life & health for South East Asia, South Asia, Korea and Japan.

Hughes said: “Munich Re has a long-standing presence in Korea, and the market is important to us. With Kyungsuk joining Munich Re, we have attracted a very capable candidate with a strong track record in the insurance industry to continue leading our Life and Health business and build on the strong relationships and delivering quality service to our clients and the industry in Korea. This overlap will facilitate a smooth transition and ensure clients receive the same quality of service from Munich Re.”

“Following a distinguished career in the insurance industry, including more than 20 years of service at Munich Re, I would also like to thank Soobum for his significant contribution to Munich Re and the broader insurance industry in Korea,” he added.

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