Benfield Group Opens South Korea Office

Benfield Group Ltd. today announced the opening of an office in Seoul, South Korea, to be known as Benfield Korea.

Choi Chiwan has been appointed president of Benfield Korea. He has 30 years of experience in the reinsurance market and was formerly a senior executive at Korean Re as well as chief representative in Korea for an international reinsurance company.

J.S. Lee was appointed managing director of Benfield Korea and joins the office from Guy Carpenter Korea, where he held the position of managing director of the company's Korean operations.

Y.S. Lee was named president of Benfield Corporate Risk's operations in the country, which will focus on the development of specialty business in the marine, energy, power, aviation and aerospace sectors. Mr. Lee joins Benfield from Marsh where he was the leader of one of its marine teams.

"We have enjoyed a long history of involvement in the Korean market and we are delighted to announce this expansion of the group's operations in the country," said Grahame Chilton, chief executive of Benfield Group Ltd., in a statement. "We see a significant opportunity to develop our existing relationships and expand the provision of our market-leading broking and risk advisory services in this market."