South Korea
Korean insurers face volatile investment returns under new IFRS
Stricter K-ICS risk charges prompt portfolio adjustments.
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.
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.
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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.
