Korea
Korea bound for greener pastures in 2024, 2.6% growth projection
Non-life market to beat life sector in premium volume.
Korea bound for greener pastures in 2024, 2.6% growth projection
Non-life market to beat life sector in premium volume.
FSC revises fire insurance, extends scope and coverage to other building types
This revision aligns with the compulsory fire insurance requirement in Korea.
Korea's driver insurance booms, navigates regulatory challenges
CAGR from 2016 to 2022 reached 8.6%.
Korean non-life and life industry stands steady in 2024 – Fitch Ratings
Insurers are seen to exhibit enhanced financial performance in the short term, mainly because of improvement in investment yield and focus on higher-value-added businesses.
Korea’s life insurance sector jumps 49% YoY year-to-date
It accumulated a total of $3.3b in net income.
Korean insurers are likely to keep fidgeting business mix amidst K-ICS implementation
K-ICS ratio without applying transitional measures stood at 192.7% at the end of the first quarter of 2023.
Hyundai Insurance underwriting dips in H1 ‘23
Its net income also saw a 15.8% contraction to KRW578b.
Korea P&I Club’s maritime relationships keep strong domestic presence – AM Best
Underwriting performance is also seen to improve in the next few years.
Chubb announces country president for Korea segment
Janice (Jae-Kyung) Mo will be succeeding Edward Kopp.
More Korean insurers expanding overseas: FSS
Aggregate profits of Korean insurers saw a 34.9% surge in 2022.
Agricultural households covered skyrockets in 2022 vs 2010: Korea Re
This was boosted by the agricultural and fishery disaster insurance scheme.
Korean insurers see 2022 profit surge 11.1%
The Korean insurance market is expected to grow by 2.1% in 2023.
Digital transformation to improve Korean insurance
Analysts, however, warn that this may increase competitive pressure.
South Korean insurers' RBC ratio falls to 256% in Q1 2021
The decline came as a hike in bond yields incurred valuation losses from bond investments.
Luxury import cars drive South Korean non-life premiums in 2020
Top general insurers had $16.82b in premiums through credit cards in 2020.
South Korean insurer lending rose 7.8% in 2020
Outstanding loans totaled $224.4b as of end-December.
South Korean insurers' net profit jump 13.9% in 2020
This was partly attributed to lower car accidents during the pandemic.
Most Read
1. 25% of employers to enhance insurance coverage in the next two years 2. Allianz Partners collaborates with MoneyHero for travel insurance 3. MAS slaps 12-year ban on ex-Manulife rep for cheating 4. Natural disasters steer Asia Pacific towards parametric insurance 5. AXA Mandiri’s Shariah insurance fosters mutual assistance amongst participantsResource Center
Read Here
Advertise
Sign Up
Awards
Jul
09
Event News
Event News
Celebrate your award-winning insurance initiatives at the Insurance Asia Awards 2024
![Celebrate your award-winning insurance initiatives at the Insurance Asia Awards 2024]()
Co-Written / Partner
Be recognised as one of the top insurers in the region by sending your entries until 19 April 2024!
Be recognised as one of the top insurers in the region by sending your entries until 19 April 2024!
Videos
Partner Sites
Most Read
1. 25% of employers to enhance insurance coverage in the next two years 2. Allianz Partners collaborates with MoneyHero for travel insurance 3. MAS slaps 12-year ban on ex-Manulife rep for cheating 4. Natural disasters steer Asia Pacific towards parametric insurance 5. AXA Mandiri’s Shariah insurance fosters mutual assistance amongst participantsAwards
Jul
09
Commentary
Critical illness coverage penetration challenges: Understanding Singaporean Struggles and Solutions
Renewables push faces climate hurdles post-COP28