On March 31, 2016, the Korean Branch of Pacific Life Re Limited (“Pacific Life Re”) secured its license and authorization from the Financial Services Commission (“FSC”) to conduct reinsurance business in Korea.

Pacific Life Re is a foreign reinsurer based in the UK.  It underwrites reinsurance for life insurance risks in the UK, Ireland, North America and across Asia. 

In relation to establishing the Korean Branch of Pacific Life Re, Kim & Chang successfully acted as its legal and regulatory counsel, including obtaining the approvals necessary to establish the domestic branch of a foreign reinsurer.