Overview
At Korean Re, we are committed to providing reinsurance services of the highest possible standards, with a focus on sound environmental, social, and governance (ESG) practices. Our commitment to ESG is based on the values of promoting transparency in corporate governance, protecting the environment, and being a socially responsible member of the communities we work and live in. Upholding these values is not only the right thing to do but also helps us ensure sustainable business operations. Our success as a reinsurer will be driven not just by how well our business is operated commercially, but by how actively we participate in climate crisis response initiatives and support the communities in which we operate as well.
Sustainability Management Governance
█ Sustainability Decision-Making Bodies
Sustainability Management Governance
█ Sustainability Decision-Making Bodies
ESG Committee
Korean Re operates its ESG Committee under the Board of Directors (BOD) to swiftly and proactively adapt to the evolving ESG management landscape. The committee consists of two external directors with expertise in insurance and finance, and consults external experts as needed. The ESG Committee is responsible for deliberating and establishing strategies and goals for sustainable
growth. It oversees the implementation of company-wide ESG practices, ensuring that the company fulfils its environmental and social responsibilities, while maintaining transparent governance. The committee reports all significant ESG matters to the BOD and assesses risk and opportunity factors related to core ESG issues to develop appropriate countermeasures.
ESG Management Committee
The ESG Management Committee, consisting of all managing directors, including the Chief Financial Officer (CFO) and Chief Risk Officer (CRO), acts as a consultative body for the ESG Committee’s resolutions and reporting matters. It reviews the ESG Committee’s deliberations and coordinates and adjusts agendas as necessary. This process ensures the consistent implementation of the company’s sustainability management strategies across all operational departments, overseeing performance and driving continuous improvement.
ESG Function
The Strategic Planning Office identifies critical issues related to sustainable management, establishes companywide ESG policies and strategies, and sets short-, mid-, and long-term goals with detailed implementation plans. These are then referred to the ESG Management Committee and the ESG Committee for deliberation or reporting. Furthermore, the Strategic Planning Office regularly shares the company’s sustainability performance and plans with all employees, and continuously operates ESG education
programs to enhance employees’ capabilities and support their ESG conscious decision-making.
ESG Rating
Korean Re has achieved an upgraded rating of A+ (Highly Outstanding) in the Social (S) category of the 2024 ESG evaluation by the Korea Institute of Corporate Governance and Sustainability (KCGS). The company has maintained an ESG integrated rating of A (Outstanding) for the second year in a row.
The improved rating reflects the company’s steadfast commitment to corporate social responsibility and ethical practices within the Social category. Recently, the company conducted a human rights assessment across its operations and disclosed the results, while setting clear social indicators with mid- to long-term goals based on its newly established policies for occupational health and safety management.
Korean Re has also taken further steps toward systematic ESG management, such as reinforcing oversight by its Board of Directors and subcommittees on major ESG issues and enhancing disclosure practices in business and governance reports.
█ Korean Re’s ESG Ratings from KCGS
ESG Rating
Korean Re has achieved an upgraded rating of A+ (Highly Outstanding) in the Social (S) category of the 2024 ESG evaluation by the Korea Institute of Corporate Governance and Sustainability (KCGS). The company has maintained an ESG integrated rating of A (Outstanding) for the second year in a row.
The improved rating reflects the company’s steadfast commitment to corporate social responsibility and ethical practices within the Social category. Recently, the company conducted a human rights assessment across its operations and disclosed the results, while setting clear social indicators with mid- to long-term goals based on its newly established policies for occupational health and safety management.
Korean Re has also taken further steps toward systematic ESG management, such as reinforcing oversight by its Board of Directors and subcommittees on major ESG issues and enhancing disclosure practices in business and governance reports.
█ Korean Re’s ESG Ratings from KCGS
