South Korea
South Korean insurers Q1 2025 net income contracts 15.8% YoY
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.
South Korea insurance capital dips to $1.81t in Q4
Under transitional measures, the industry-wide K-ICS ratio dropped to 206.7%.
Pacific Life Re appoints Kenichi Kim as head of South Korea
He has more than 15 years of experience in financial services and reinsurance.
S&P says insurers can absorb South Korea wildfire losses
The fire was the worst on record since 1987.
Korea’s new capital rules reduce insurers' capital burden
Under the revision, capital adequacy benchmark will be lowered to 130% to 140%.
FSC approves Samsung Fire & Marine integration under Samsung Life: Report
Insurers holding more than 15% shares must integrate the company as a subsidiary.
Kyobo Life’s stable outlook holds despite mounting liabilities: Fitch Ratings
Fitch also expects Kyobo Life's capital adequacy to recover.
KB Insurance earnings up 9.1% to $6b in FY 2024
Thanks to higher revenues, which increased 3.8% YoY.
South Korea’s life insurance market to bag $158b through 2029
The industry is projected to recover in 2024 after a decline in 2023.
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