South Korea

The company was said to be operating an unauthorized brokerage service.

The S.Korea reinsurarer’s premiums stood at $7.78b last year.

Insurers registered a 4.1% growth in 2020 for the first time since 2016.

DBI’s risk-adjusted capitalisation is backed by solid growth of its capital, which reached $5b as of end-2020.

Customers have been giving personal data in exchange for these policies.

Their financial performance is diverse but has decayed amidst the prolonged low interest rates.

The regulator is expected to rule in their favour, sources revealed.

The confirmation follows pressure from a network of civic groups.

There is still about $11b (KRW12.6t) in unclaimed insurance funds.

Life insurers saw better profits in 2020, whilst non-lifers saw improved loss ratio.

The company will be granted full approval within six months once prerequisites are met.