South Korea
Motor insurance segment in S. Korea to exceed $19b by 2028: GlobalData
Healthy loss ratio driven by lower claims will assist insurers in re-assessing their risk exposure.
Motor insurance segment in S. Korea to exceed $19b by 2028: GlobalData
Healthy loss ratio driven by lower claims will assist insurers in re-assessing their risk exposure.
Seoul Guarantee Insurance IPO could resurface: Report
After a failed attempt last year from weak demand, it hopes to recover part of its public funds injected during the 1998 forex crisis.
NorthStandard expands S. Korea presence, boosts regional network
It also plans to recruit local experts familiar with the Korean shipping market.
South Korea’s insurers register better capital adequacy ratio Q3’23
FSS promises the industry to help maintain sufficient capital buffers amid volatile and uncertain financial market conditions.
S.K.’s FSC Issues guidelines for fractional investments in regulatory sandbox
Authorities anticipate that this guideline will enhance business entities.
S.K.’s stock market index to release English disclosures this coming year
The mandatory English disclosures of significant information will be enforced for KOSPI-listed firms in two stages.
S.K.’s household loans from insurers climb to $77m in November
On the other hand, loans made from nonbanks fell to $2.2b.
Korean Re to see growth potential in S.K.’s coinsurance business: AM Best
AM Best foresees a notable reduction in KRE's underwriting risk in 2023 due to the planned portfolio restructuring, which aims to offload unprofitable business, especially in the domestic personal line.Â
S.K.’s FSC calls for regulation on online asset users' protection
Slated to take effect on 19 July 2024, the proposed regulations aim to safeguard virtual asset users and establish a secure order in virtual asset transactions.Â
S.K.’s FSC chairman urges insurers to enhance CSR amidst financial challenges
The meeting was part of a series aimed at fostering close communication and mutual understanding between regulatory authorities and the financial industry.
S.K.’s FSC urges MyData regulation overhaul, fair pricing and streamlined processes
The proposed changes aim to establish reasonable standards for the pricing of data transfer costs, ensuring a sustainable operational environment for MyData services.
AM Best forecasts stable medium-term growth for Meritz Insurance
The assessment mirrors Meritz's robust balance sheet strength,
bolttech collaborates with S.K.’s LOTTE HIMART for electronic goods exchange service
The service comes with an annual fee of $30.
S.K.’s insurance comparison in January 2024 could drive higher premiums
Higher premiums are forecasted for this service versus cyber marketing channels.
About 84% of foreign students in S.K. dissatisfied with national health insurance system
The reason was due to higher contributions required versus private insurers.
Capital pressures linger as insurers adopt new accounting rule in South Korea
IFRS 17 adoption is seen to improve insight into margins and reserves, increase motivation for long-term profitability, and better global comparability for insurers.
S.K.’s FSC raises KRW73.8t in policy funds for venture capital in FIs
This exceeded the initial supply plan of 66.7% by August and achieved 80.4% of the annual target.
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1. MAS slaps 12-year ban on ex-Manulife rep for cheating 2. Allianz Partners collaborates with MoneyHero for travel insurance 3. Singlife and Doctor Anywhere launch subscription plan for self-employed 4. Vietnam's general insurance to hit $3.9b by 2028 5. Allianz sells 51% stake in Saudi unitAwards
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