AGCS gains approval for South Korean branch

Allianz Global Corporate & Specialty (AGCS) has won regulatory
approval to set up a branch in South Korea, as the commercial lines
carrier eyes growth in the east Asian country.
AGCS said it was the first international non-life insurer in
nearly a decade to gain approval from the Financial Services
Commission of South Korea to set up a new unit.
The company has picked Noh Chang Tae as CEO of the branch. Chang
Tae was previously working for AGCS in...