South Korea
IFRS 17, K-ICS weakens average solvency ratio
The adoption of K-ICS drove operational strategies of Korean insurers to focus on expanding sales of protection-type products with high profitability.
IFRS 17, K-ICS weakens average solvency ratio
The adoption of K-ICS drove operational strategies of Korean insurers to focus on expanding sales of protection-type products with high profitability.
South Korean insurers chided for restrictive COVID-19 vaccine policies
Customers have been giving personal data in exchange for these policies.
South Korean life insurers' interest payment burden rising: report
Their financial performance is diverse but has decayed amidst the prolonged low interest rates.
South Korea to decide on Samsung daughters' life insurance shareholder eligibility
The regulator is expected to rule in their favour, sources revealed.
Major South Korean insurers to stop underwriting new coal projects
The confirmation follows pressure from a network of civic groups.
South Korea regulators to upgrade insurance benefits system
There is still about $11b (KRW12.6t) in unclaimed insurance funds.
Better credit quality ahead for South Korean insurers in 2021
Life insurers saw better profits in 2020, whilst non-lifers saw improved loss ratio.
South Korean insurers' RBC ratio falls to 256% in Q1 2021
The decline came as a hike in bond yields incurred valuation losses from bond investments.
South Korea's Kakao clinches initial nod for digital non-life licence
The company will be granted full approval within six months once prerequisites are met.
Thought Leadership Centre
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1. Allianz-Income merger in limbo as parties weigh new rules 2. India's life insurance growth slows to 10.6% in October 3. South Korean insurers brace for profit squeeze amidst rate cuts 4. bolttech secures $50m venture debt from HSBC, expands market 5. Life insurance premiums forecast to grow by 3% yearly until 2026Resource Center
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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.
