Korea
Korean life insurers hit by short-term pain in shift towards protection products
Korean life insurers hit by short-term pain in shift towards protection products
Savings type products require higher capital charges and offer less attractive margins.
South Korea insurance profits down 7.4% to $6.5b in 2018
Earnings from non-life insurers worsened as car losses rose.
Regulatory tightening fails to cripple South Korean non-life insurers surplus growth
Strong exposure to long-term saving and protection is expected to boost VNB.
Korean life insurance net income crashes 21.7% to $316.9b in Q1
Blame premium income from savings-type insurance products which plunged by $2.5b.
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