Expertise

Insurance

Introduction

Introduction

Shin & Kim’s Insurance Team has provided legal advice to major domestic and foreign life insurance companies, fire and marine insurance companies, reinsurance companies, insurance brokers, insurance agents and other insurance industry participants since the early 2000s. Our Insurance Team is at the forefront of providing legal services to the insurance industry including general advice, disputes relating to M&As of insurance companies and guidance on the IPOs of life insurance companies. The recent additions of two high level former Financial Supervisory Service officials, senior adviser Byong-Jin Cho, who has a preeminent background in the fields of insurance supervision, inspection and actuarial practice, and partner Chan-Mook Jung, who has extensive experience in the areas of insurance disputes, examinations and sanctions of insurance agencies, further provide our Insurance Team with market leading professionals who are uniquely positioned to provide cutting edge advice and dispute resolutions on behalf of our clients in need of a broad spectrum of advice in the insurance industry.

Key Services

Shin & Kim’s Insurance Team provides the following services:

Litigation
  • Disputes and lawsuits including alleged incomplete sales of insurance policies.
  • Communication with regulatory authorities and lawsuits involving regulatory authorities.
Advisory
  • Regulatory issues in the insurance industry.
  • Development of insurance products.
  • Preparation of general terms and conditions of insurance and regulatory interpretations.
  • M&As between, or involving, insurance companies.
  • IPOs of insurance companies.
  • Investments in relation to Korean insurance companies by overseas investors.
  • Overseas asset management of domestic insurance companies.
  • Execution and negotiation of reinsurance agreements with foreign reinsurers and other general legal issues on reinsurance. 
Experiences
  • Advice to various life insurance companies and fire and marine insurance companies with respect to the operation of insurance companies, insurance supervision and the Korean Insurance Act.
  • Advice to numerous overseas reinsurers on reinsurance matters in Korea.
  • Advice to special insurance companies including K-sure.
  • Advice to IPOs of Mirae Asset Life Insurance, Tong Yang Life Insurance and Samsung Life Insurance.
  • Advice to companies on the sale of insurance companies including ING Life Insurance, Tong Yang Life Insurance and MG Non-life Insurance.
  • Advice to KB Insurance in establishing a subsidiary in the convalescence business.
  • Representation of a company in a dispute between a buyer and a seller with respect to the violation of warranties and representations involving an M&A of an insurance company.

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