Former KB Insurance CEO Kim Ki-hwan named 19th chairman of Korea Fire Insurance Association

Kim Ki-hwan, former chief executive of KB Insurance, has been confirmed as the 19th chairman of the Korea Fire Insurance Association.

The association held a general assembly of its member non-life insurance companies Tuesday and voted to appoint Kim, the sole candidate put forward by its chairman nomination committee. His inauguration is scheduled for June 22, when he will formally assume his duties.

Born in 1963, Kim graduated from Wooshin High School in Seoul and studied economics at Seoul National University before entering the financial industry in 1991. He went on to serve as executive vice president of KB Kookmin Bank's consumer protection division, chief risk officer at KB Financial and chief financial officer at KB Financial, before leading KB Insurance as its CEO for three years starting in 2021.

Kim is regarded as a finance specialist with strong expertise in traditional banking and risk management — qualities the association expects him to apply to risk management, one of its core areas of work.