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South Korea's dominant domestic reinsurer, providing risk-sharing capacity to local life and non-life insurers.
South Korea's dominant domestic reinsurer, providing risk-sharing capacity to local life and non-life insurers.
Earns premiums from insurers that pass part of their risk to it, then pays claims on those policies, so results combine underwriting outcomes with investment income on the reserves it holds. Large claims from natural disasters in its overseas business can swing a year's result.
Moat: wide (scale, regulatory licence). Dominant domestic reinsurer with deep, hard-to-replicate relationships across Korean insurers.
Headquarters: Seoul, South Korea · Founded: 1963 · Employees: 446
Size Korean Reinsurance (003690.KS) is a South Korea Financials company (Multi-Line Insurance) with a market value of $1.74B, the 152nd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩13,350 on 6 Nov 2026.
Performance Over six months the shares gained 8.1%, against +3.0% for the median peer and -24.5% for the South Korea market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +13.6%); the operating margin is 5.5% (peer median 10.1%).
Valuation It trades at 0.73× book value against a peer median of 1.76× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 4.8%; Korean Reinsurance delivers 14.4%, so the price asks less than the business earns today.
Next results Next results expected around 13 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩5.69T | ₩5.57T | ₩5.56T | ₩5.54T | ₩6.25T |
| Revenue growth | — | 0% | 0% | -11% | — |
| Net income | ₩426B | ₩281B | ₩275B | ₩244B | ₩260B |
| Free cash flow | ₩947B | ₩1.07T | ₩811B | ₩767B | ₩1.31T |
| Capital expenditure | ₩36.6B | ₩17.3B | ₩5.21B | ₩9.47B | ₩6.76B |
| Total debt | ₩849B | ₩848B | ₩815B | ₩816B | ₩568B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Korean Reinsurance 003690.KS | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% |
| Swiss Re SREN.SW | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% |
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% |
| Hannover Rueck HNR1.DE | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 003690.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.8% | +2.9% | 3rd lowest of 21 |
| 6-month return | +8.1% | +3.0% | 9th highest of 21 |
| Return on equity | 14.4% | 8.5% | 7th highest of 21 |
| Price / book | 0.73× | 1.76× | 7th cheapest of 21 |
| Trailing P/E | 5.5× | 14.0× | 2nd cheapest of 19 |
| ROE the price implies | 4.8% | 10.2% | 3rd least demanding of 20 |
| ROE delivered | 14.4% | 8.5% | 7th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Korean Reinsurance 003690.KS | South Korea | $1.74B | +8% | -2% | 14% | 0.73× | 4.8% | 14.4% |
| Trupanion TRUP | United States | $1.61B | +49% | +12% | 6% | 3.94× | 35.3% | 6.1% |
| Linea Directa Aseguradora LDA.MC | Spain | $1.48B | +3% | +10% | 23% | 3.07× | 11.7% | 23.3% |
| Zhongan Online P&C Insurance 6060.HK | Hong Kong | $2.06B | -19% | +16% | 8% | 0.54× | 8.0% | 8.2% |
| Wuestenrot & Wuerttembergische WUW.DE | Germany | $1.39B | -6% | +4% | 3% | 0.25× | 3.6% | 2.7% |
| Seoul Guarantee Insurance 031210.KS | South Korea | $2.26B | -8% | +14% | 6% | 0.61× | 4.5% | 6.0% |
| NIB NHF.AX | Australia | $2.29B | +4% | +5% | 17% | 2.90× | 13.2% | 16.6% |
| Pelagos Insurance Capital PLGO | United States | $2.29B | +33% | -4% | 18% | 1.03× | 6.5% | 17.6% |
| Go Digit General Insurance GODIGIT.NS | India | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% | n/a |
| Vaudoise Assurances VAHN.SW | Switzerland | $2.66B | -8% | +14% | 6% | 0.78× | n/a | 5.9% |
| Skyward Specialty Insurance SKWD | United States | $2.68B | +29% | +38% | 17% | 2.11× | 10.2% | 17.3% |
| Central Reinsurance 2851.TW | Taiwan | $1.12B | +52% | +21% | 37% | 1.41× | 5.1% | 37.4% |
| Bowhead Specialty BOW | United States | $1.12B | +26% | +24% | 14% | 2.48× | 11.3% | 13.6% |
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |
| Chesnara CSN.L | United Kingdom | $1.08B | +11% | +192% | 0% | 2.14× | 15.7% | 0.3% |
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| Religare Enterprises RELIGARE.NS | India | $845M | +4% | +18% | 3% | 2.67× | 23.7% | n/a |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |