South Korea
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.
Munich Re Korea gets new CEO
His role is effective 1 August.
Fitch praises South Korea’s transparent insurance regulations
The FSC monitors insurers' capital strength.
Carrot granted exclusive behavioural-based insurance use in auto
Since the launch of its BBI product, the accident rate amongst its customers has been at 12%.
Korean insurers face volatile investment returns under new IFRS
Stricter K-ICS risk charges prompt portfolio adjustments.
South Korean MG Non-Life Insurance sale fails again
This was its third attempt.
Hyundai Marine & Fire maintains strong balance sheet
It had a 7.8% return-on-equity ratio and a 96.0% combined ratio for 2023.
S. Korea’s same-sex couples eligible for health insurance
“Love has won again,” said So Seong-wook, a plaintiff.
South Korea's FSC greenlights financial recovery strategies
The resolution plans are composed by the Korea Deposit Insurance Corporation.
S. Korea’s virtual asset user protection act set to launch
The law aims to establish a secure framework.
S. Korea’s FSC outlines new finance policies for sustainable growth
The gov’t agency aims to announce comprehensive changes by year-end.
Kyobo Life, SBI Group form digital finance alliance
Both parties are looking into distributing security token offerings.
US reinsurer and Tongyang Life seal historic coinsurance deal
This is the first cross-jurisdictional coinsurance transaction in South Korea.
Korean insurers' profitability bolstered by strong CSM release
Insurers saw a 46% increase in net profits, attributed to the adoption of IFRS17.
Kyobo Life to hold solid market position in the 12-18 months
Its return on capital (ROC) was 3.0% in 2023.
Thought Leadership Centre
Most Read
1. India's life insurance growth slows to 10.6% in October 2. South Korean insurers brace for profit squeeze amidst rate cuts 3. bolttech secures $50m venture debt from HSBC, expands market 4. Life insurance premiums forecast to grow by 3% yearly until 2026 5. Prudential launches AI lab in SingaporeResource Center
Read Here
Advertise
Sign Up
Event News
Event News
Humans need to be in insurance’s genAI loop
![Humans need to be in insurance’s genAI loop]()
Insurance
Employees still need to interpret AI-generated data and make decisions to minimise risks.
Employees still need to interpret AI-generated data and make decisions to minimise risks.
