South Korea
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.
Tong Yang Life is seen to bag steady profit growth
Thanks to solid investment income and increased sales of high-margin protection products.
Korean construction insurer maintains strong capital
KFINCO's profitability is considered modest, with a return on equity of 2.0% in 2023.
Korean insurers dominate overseas investment in real estate
Investments mounted to KRW $42.1b.
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