Korean Reinsurance Switzerland AG announced a private placement of 900,000 common shares for gross proceeds of KRW 67,008,000,000 on February 7, 2019. The transaction will include participation from existing investor Korean Reinsurance Company (KOSE:A003690). Post the closing, the number of shares will increase from 100,000 to 1,000,000. Post the closing, the investor will retain its 100% stake in the company. The transaction is expected to close within the first half of 2019. The transaction has been approved by board of directors of the investor.