About Aon in South Korea
Established in 1986, Aon Korea, Inc., became South Korea's first fully licensed insurance brokerage firm in September 1998. We employ over 50 staff and are more than able to meet the risk-management and insurance needs of over 200 global corporations with operations in South Korea.

As a global broker, we have specific expertise in advising clients who establish new businesses in South Korea or enter the market through local acquisitions. We are the market leader in reinsurance, providing professional and in-depth services mainly to domestic insurance companies. Our services encompass traditional business lines and more sophisticated ones like Credit, IDI, Satellite and Natural Hazard.

Aon Warranty Korea (AWK) provides extended warranty services for manufacturers of Automobiles, Homes, Electronics and a range of consumer products. AWK also provides credit-card enhancement for affinity groups and financial organizations.

Noteworthy facts about the South Korean insurance market:

• Insurance tariffs apply
• Non-Admitted insurance is prohibited
• Insurance is compulsory for Motor-Vehicle Third Party, Workmen's Compensation, Fire and Bodily Injury Liability in Public Buildings and Gas Liability classes
• Reinsurance
  • some mandatory cessions
  • fronting costs of approximately 10% - 15%