South Korea

AXA denies rumours of exit in South Korea

The firm is the only foreign insurer in the auto insurance market of South Korea. 

South Korea reinsurance industry to reach $11.9b in 2026

Climate change and regulatory developments continue to be their drivers.

Korea P&I Club underwriting profits to remain vulnerable: AM Best

This is despite mitigative actions done by the insurer.

South Korean non-life insurers to suffer heavy loss August floods: Fitch

However, reinsurance safeguards will shield most insurers from major losses, AM Best said

Worst Seoul flooding triggers more than $50m in motor claims

4,791 car owners have filed for insurance claims due to damages by the flood.

Korea Exchange rejects Kyobo Life IPO application

The reason for the denial is discord amongst major shareholders.

Chubb names new LINA Korea country president

The firm recently acquired Cigna’s life insurance operations in the country.

Kyobo Life to issue $500m hybrid bonds

The 30-year bonds will all be sold to offshore investors.

South Korea insurance industry profits fell by 21% in Q1

Net profits for all 53 major insurers totaled $2.45b.

Samsung Life net profits plunges by 72.9%

The insurer saw losses grow by $170m compared to last year.

Robots gets insurance cover in South Korea

It can cover almost every accident caused by service robots.

Hanwha Life Insurance Q1 net profits drops by 70.6%

The insurer is considered the second biggest life insurer in South Korea.

FSS to take tougher measures on screening of suspicious insurance cases

The South Korean regulator said this is to reduce fraud in the industry.

South Korean motor insurers turns profit for the first time in four years

The pandemic played a huge role in this for motor insurers.

South Korea life insurance industry to reach $117b in 2026

Its growth will be driven by product innovations by insurers.