South Korea
Hanwha General Insurance to weather interest rates, start-up woes: report
Hanwha General Insurance also showed a strong balance sheet performance.
Hanwha General Insurance to weather interest rates, start-up woes: report
Hanwha General Insurance also showed a strong balance sheet performance.
South Korea approves recovery plans of Korea Deposit Insurance Corporation
The plans of 10 D-SIFIs (2023) align with international standards and recommendations from the FSB.
SK’s regulators to return KRW12.4t worth of unclaimed insurance funds
The sector is also planning to shorten the transfer process to KINFA by one year.
Korean reinsurance jumps 15.3% in 2022
There is higher demand for reinsurance and co-insurance, Korea Re said.
Kyobo Life CEO awarded the 2023 Insurance Hall of Fame
Kyobo Life chairman and CEO Dr. Shin is the award’s first legacy inductee.
S.Korea insurance industry to see 4.7% jump in GWP in 2027
This is due to a regulatory proposal to deregulate digital insurance innovations.
South Korea reviews allowing insurers to conduct banking operations
A task force was formed to look into this.
FM Global receives an insurance license in South Korea
The firm is also a licensed reinsurer in the country.
Electric vehicles to drive motor insurance growth in South Korea
The number of insured EVs tripled from 2018 to 2021.
AXA denies rumours of exit in South Korea
The firm is the only foreign insurer in the auto insurance market of South Korea.
South Korea reinsurance industry to reach $11.9b in 2026
Climate change and regulatory developments continue to be their drivers.
Korea P&I Club underwriting profits to remain vulnerable: AM Best
This is despite mitigative actions done by the insurer.
South Korean non-life insurers to suffer heavy loss August floods: Fitch
However, reinsurance safeguards will shield most insurers from major losses, AM Best said
Worst Seoul flooding triggers more than $50m in motor claims
4,791 car owners have filed for insurance claims due to damages by the flood.
Korea Exchange rejects Kyobo Life IPO application
The reason for the denial is discord amongst major shareholders.
Chubb names new LINA Korea country president
The firm recently acquired Cigna’s life insurance operations in the country.
Kyobo Life to issue $500m hybrid bonds
The 30-year bonds will all be sold to offshore investors.
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.
