AmTrust expands international warranty business
AmTrust Financial , a global specialty property casualty insurer, is expanding its international extended warranty and protection business in South Korea.
AmTrust writes policies for automotive, electronics, equipment manufacturers and retailers.
The AmTrust Korea team will be led by CEO Andrew Kim, who has more than 30 years’ experience in insurance and reinsurance in South Korea with a specialization in mobile device risks, customer electronics and motor warranty.
AmTrust has provided reinsurance capacity for major mobile phone insurance programs of South Korean telecom companies since 2016. AmTrust has also supported the device protection programs of top electronic brands in major Southeast Asian economies, including Indonesia, Malaysia, Thailand, Vietnam and the Philippines, since 2018. This expansion is part of the Company’s strategic objective to grow its established warranty and protection offerings in sizable, high-potential markets, including those in Asia.
“I am delighted to announce the launch of AmTrust Korea. We have grown our presence and capabilities in the consumer lines affinity market in South Korea over the past six years and are now very excited to formalize this operation. We have strong relationships with local insurance and local broker partners in South Korea, and our capable team is committed to providing long-term value to the market.” – Peter Dewey, EVP and Head of International at AmTrust.