South Korea

KB Insurance stability supported by strong CSM in long-term plans

Interest income is a key driver of investment profit.
3 days ago

KB Insurance stability supported by strong CSM in long-term plans

Interest income is a key driver of investment profit.
3 days ago

Construction Guarantee faces profit pressure amidst prolonged construction downturn

A notable rise in guarantee claims payments and reserves is expected to keep claims levels elevated.

Ageing population to drive insurance take-up in South Korea

For 2025, $167.1b in direct written premiums are expected to be amassed by insurers.

Institute calls for improved coverage for mental health

Patients suffering from depression increased by 35% from 2017 to 2021.

IFRS 17 pushes Korean insurers towards lower-risk products

S&P notes that insurers have been preparing by investing in long-dated bonds.

Kyobo Life reports $6b gross premiums in H1 2024

However, investment profits dropped 41.4% QoQ.

DB Insurance’s capital to remain resilient amidst hostile environment

Its operating performance is supported by its underwriting performance.

Hanwha Life strengthens leverage post-debt redemption

The insurer’s solvency capital ratio under K-ICS was 183.8% in 2023

Tong Yang Life's profit prospects strong under new ownership

Woori FG is supported by Woori Bank, one of Korea’s domestic systemically important banks.

KakaoPay Insurance hits 1.5m travel insurance enrollments

It has integrated its services through KakaoTalk, which has over 41 million users.

Korea P&I Club's conservative investments support stability

KP&I has implemented general premium increases.

Hanwha General should bolster its digital non-life subsidiary

HGI reported a consolidated ROE of 6.5% in 2023.

High interest rates threaten Korean insurers' profitability

The profitability of Korean non-life generally falls below the ratio guidelines.

Meritz Fire & Marine Insurance eyes MG Non-Life Insurance

Three entities are now bidding to acquire the non-life insurer.