South Korea
S.K.’s FSC calls for regulation on online asset users' protection
Slated to take effect on 19 July 2024, the proposed regulations aim to safeguard virtual asset users and establish a secure order in virtual asset transactions.
S.K.’s FSC calls for regulation on online asset users' protection
Slated to take effect on 19 July 2024, the proposed regulations aim to safeguard virtual asset users and establish a secure order in virtual asset transactions.
S.K.’s FSC chairman urges insurers to enhance CSR amidst financial challenges
The meeting was part of a series aimed at fostering close communication and mutual understanding between regulatory authorities and the financial industry.
S.K.’s FSC urges MyData regulation overhaul, fair pricing and streamlined processes
The proposed changes aim to establish reasonable standards for the pricing of data transfer costs, ensuring a sustainable operational environment for MyData services.
AM Best forecasts stable medium-term growth for Meritz Insurance
The assessment mirrors Meritz's robust balance sheet strength,
bolttech collaborates with S.K.’s LOTTE HIMART for electronic goods exchange service
The service comes with an annual fee of $30.
S.K.’s insurance comparison in January 2024 could drive higher premiums
Higher premiums are forecasted for this service versus cyber marketing channels.
About 84% of foreign students in S.K. dissatisfied with national health insurance system
The reason was due to higher contributions required versus private insurers.
Capital pressures linger as insurers adopt new accounting rule in South Korea
IFRS 17 adoption is seen to improve insight into margins and reserves, increase motivation for long-term profitability, and better global comparability for insurers.
S.K.’s FSC raises KRW73.8t in policy funds for venture capital in FIs
This exceeded the initial supply plan of 66.7% by August and achieved 80.4% of the annual target.
Korean Re’s 1H23 earnings surge to KRW269b
Korean Re started reporting quarterly results based on IFRS 17 and IFRS 9.
Korea’s foreigners face tighter insurance requirements: Report
Non-nationals will qualify for health insurance if their stay is at least six months.
South Korea’s life insurance industry to exceed $190b by 2027: GlobalData
One of the driving factors is South Korea’s shrinking ageing population.
H1 profits of Samsung Fire & Marine climb nearly a third from last year’s
It climbed 27.4% to KRW1.2t.
KB Financial sustains H1 performance, driven by interest income growth
Its insurance units saw mixed results.
Insurers need to reevaluate policies for EVs: Korean Re
Insured electronic vehicles accounted for 0.9% of total insured motor insurance policies in 2022.
Korea eases rules on overseas ownership; insurers can acquire banks
Insurers can invest in foreign financial and non-financial companies within regulatory boundaries.
Hanwha General Insurance to weather interest rates, start-up woes: report
Hanwha General Insurance also showed a strong balance sheet performance.
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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.
