South Korea
Korean construction insurer maintains strong capital
KFINCO's profitability is considered modest, with a return on equity of 2.0% in 2023.
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.
Chubb synergises with three other Korean firms: Report
Chubb's general insurance subsidiary announced it will rename its brand.
K-Pet eyes insurance, launches disease prevention tech
S. Korea’s pet premium income climbed from KRW1.1b in 2018 to KRW44.3b in 2023.
How does S. Korea fare in terms of risk resilience?
It ranked lowest in climate risk exposure at 109th place.
Starr Insurance selects CEO for new Korea unit
Paul Choi carries over 30 years of industry experience.
Korean insurers face tax challenges amidst IFRS 17 adoption: Report
The sudden increase in reserves has triggered calls for regulatory adjustments.
South Korea's capital adequacy rises to 232.2%
This was an increase of 8.1 percentage points from three months prior.
Overseas ventures of South Korean insurers post mixed results in FY’23
Insurers have operated 41 overseas businesses in 11 countries as of yearend.
Korean insurers immune from overseas CRE decay: Fitch Ratings
Fitch believes robust capitalisation will enable insurers to absorb shocks from losses.
S. Korea sees 189 large liability claims in a decade
It was an average of 19 claims per year and a loss amount of KRW3.2b per claim.
Korean Re notes potential growth of pet insurance amid low uptake
Whilst there is a growing demand for pet insurance in Korea, only 11.9% of households with pets availed of insurance.
South Korean insurers adapt to new regulations
Regulatory changes prompt tax benefits to rise and the government to support overseas expansion.
KDB Life grapples with high leverage, Fitch reports
The insurer’s CSM increased in 2023, reflecting a focus on profitable policies.
S. Korean insurers see income surge 46% YoY in FY’23
Total premium income was down 6.0% year-on-year.
FSC announces enhanced MyData 2.0 in financial services
Amongst the improvements to be implemented is expanding MyData’s access to the digitally vulnerable.
Samsung Fire & Marine halts bancassurance after 20 years: Report
The FSC reports a 15% decline in bancassurance income for Korean non-life insurers.
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Indonesia enters era of digital insurance distribution
![Indonesia enters era of digital insurance distribution]()
Industry executives at Insurance Asia Forum 2024 push the digital mindset in developing an efficient ecosystem.
Industry executives at Insurance Asia Forum 2024 push the digital mindset in developing an efficient ecosystem.
