Company Profile
Hyundai Marine & Fire Insurance Co., Ltd. US Branch
Company Overview
Our company was established in November 1990 as US operation entity of Hyundai Marine and Fire Insurance Co., Ltd (Second largest property and casualty insurance company in South Korea) and has been providing property and casualty insurance and reinsurance coverages to a variety of large companies located in the United States such as Hyundai Motors, Kia Motors and other Hyundai family of companies.
Our company has been selling residential property policies (homeowners and dwelling fire) in New York since 2012, New Jersey since 2014 and California since 2015 and has recently opened Los Angeles office to broaden our business sphere.
Our company has maintained a superior credit rating from the world's leading credit rating agencies such as AM Best and S&P. (As of December 2016, "A Stable" from AM Best and "A- Stable" from S&P)
Company History
In November 1990, Hyundai Marine & Fire Insurance Co., Ltd. US Branch was established in California. Thereafter, our company was relocated to New Jersey. For over 26 years, our company has been a part of Hyundai Korea’s network of overseas businesses issuing insurance and reinsurance policies in the U.S., and conducting insurance claims, underwriting, research, exchange of information, and exploring business opportunities for our home office in Korea. Our company has also been supporting the Parent Organization in building extensive business partnerships within the United States and holds certificates of authority to write property and casualty insurance policies in the States of California, Alabama, Georgia, Illinois, Oregon, New York, New Jersey and Massachusetts.
Currently, we provide property and casualty insurance coverage for the U.S. businesses of the Hyundai family of companies, including Hyundai Motor, Kia Motor, Hyundai Heavy Industries (marine shipbuilding), as well as reinsurance coverage to various major parts suppliers including Mobis, Halla Climate Systems, Powertech, Daewon, Hankook Tire and more. Further, our company provides various types of property, equipment and liability coverage to automobile and parts manufacturing plants in the U.S. Recently, we have added a homeowner’s insurance policy and the company hopes to further expand its market share for various commercial insurance. As part of our strategy of ongoing successful international business, our company is taking careful steps by placing greater priority on risk management operations rather than focusing just on expanding our global market share.