South Korea
Miller launches marine insurance team in Korea with four hires
Miller launches marine insurance team in Korea with four hires
KyungSeop (KS) Shim joins from Marsh Korea as head of Specialty, Korea.
South Korea to launch heat insurance for outdoor workers in 2026
The policy targets day labourers involved in public outdoor projects.
Hyundai Marine & Fire strengthens profits with high-quality bond assets
Despite rate pressures on its auto line, HMF posted 15.8% ROE last year.
South Korea proposes shift in insurance from hours to income
The revisions would mark the first major change to the system since 1995.
South Korean insurers to see steady earnings with CSM boost
However, the sector's capitalisation is expected to face continued pressure.
Fitch expects Hanwha Life to sustain earnings strength
This was supported by a strong contractual service margin.
South Korean life insurers see sharper capital dip in Q1 2025
As of end-March 2025, the average K-ICS ratio stood at 197.9%.
Hanwha Life to maintain strong capital and stable earnings
Earnings outlook is stable, backed by $6.6b in accumulated CSM.
South Korean insurers Q1 2025 net income contracts 15.8% YoY
Both its life and general insurance sectors recorded declines.
AM Best sees South Korea's non-life growth in health and property lines
Ongoing regulatory changes are driving insurers to strengthen capital.
KP&I outlook revised as underwriting volatility concerns resurface
KP&I reported a net loss of $5.4m last fiscal year.
Kyobo Life outlook stays stable with solid capital and profitability
Moody’s expects profitability to remain stable over the next 12 to 18 months.
South Korea’s motor insurance grows 2.4% in 2025 with rate hikes
Motor insurance remains the largest segment in the general insurance industry.
Korea’s non-life insurers face capital pressure and slow auto segment growth
Regulatory changes are posing a burden on the insurers’ solvency.
South Korean insurers post $159m overseas profit in 2024
Asian operations posted a YoY decline in net income of $16.3m.
South Korean insurers bag $10b in profits for 2024
The increase was mainly driven by higher investment income across life and non-life.
Hanwha Life Insurance outlook revised on stronger profitability
This reflects improved product mix, strong distribution via its subsidiary.
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