South Korea
Institute calls for improved coverage for mental health
Patients suffering from depression increased by 35% from 2017 to 2021.
Institute calls for improved coverage for mental health
Patients suffering from depression increased by 35% from 2017 to 2021.
IFRS 17 pushes Korean insurers towards lower-risk products
S&P notes that insurers have been preparing by investing in long-dated bonds.
Kyobo Life reports $6b gross premiums in H1 2024
However, investment profits dropped 41.4% QoQ.
DB Insurance’s capital to remain resilient amidst hostile environment
Its operating performance is supported by its underwriting performance.
Hanwha Life strengthens leverage post-debt redemption
The insurer’s solvency capital ratio under K-ICS was 183.8% in 2023
Tong Yang Life's profit prospects strong under new ownership
Woori FG is supported by Woori Bank, one of Korea’s domestic systemically important banks.
South Korea’s insurers bag $7b in earnings for H1 2024
This was equivalent to a 2.8% YoY rise.
KakaoPay Insurance hits 1.5m travel insurance enrollments
It has integrated its services through KakaoTalk, which has over 41 million users.
Korea P&I Club's conservative investments support stability
KP&I has implemented general premium increases.
S. Korea’s top 5 insurers generate 32.1% of production value
Industry turnover reached $48.3b in 2023.
Hanwha General should bolster its digital non-life subsidiary
HGI reported a consolidated ROE of 6.5% in 2023.
Samsung Fire & Marine earnings see 8.2% rise YoY in H1 2024
Its customer base inched up 0.77%.
High interest rates threaten Korean insurers' profitability
The profitability of Korean non-life generally falls below the ratio guidelines.
Meritz Fire & Marine Insurance eyes MG Non-Life Insurance
Three entities are now bidding to acquire the non-life insurer.
Munich Re Korea gets new CEO
His role is effective 1 August.
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%.
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Insurers need cultural overhaul in digital push
![Insurers need cultural overhaul in digital push]()
Digitalisation seeks to simplify processes, not complicate things.
Digitalisation seeks to simplify processes, not complicate things.
