South Korea
South Korea’s non-life insurance market breaches $3b in net profits in 2021
Profits were boosted by improved underwriting performance.
South Korea’s non-life insurance market breaches $3b in net profits in 2021
Profits were boosted by improved underwriting performance.
Samsung Life net profits plunges by 72.9%
The insurer saw losses grow by $170m compared to last year.
Robots gets insurance cover in South Korea
It can cover almost every accident caused by service robots.
Hanwha Life Insurance Q1 net profits drops by 70.6%
The insurer is considered the second biggest life insurer in South Korea.
FSS to take tougher measures on screening of suspicious insurance cases
The South Korean regulator said this is to reduce fraud in the industry.
South Korean motor insurers turns profit for the first time in four years
The pandemic played a huge role in this for motor insurers.
South Korea life insurance industry to reach $117b in 2026
Its growth will be driven by product innovations by insurers.
Kakao gets regulator nod for digital insurance business
This marks the first time a newcomer has been allowed to launch.
South Korean insurers 2021 preliminary income balloons to $6.8b
This is a 36.2% growth compared to the previous year.
KB Financial Group to merge life insurance subsidiaries
The insurers merging are KB Life Insurance and Prudential Life Insurance of Korea.
FSC slaps KR₩155m fine to Samsung Life over unpaid insurance claims
FSC found the insurance firm in violation of the Insurance Business Act.
South Korea premiums to swell to $229.5b by 2025
Life segment to revive in 2022, driven by increased awareness.
South Korea’s KDIC sells stake at Woori Financial for $765m
The 67.9 million shares were sold to five investors, including Eugene PE.
South Korea’s Kyobo Life requests punishment for Deloitte Anjin accountants: report
They are accused of colluding to inflate the price of six million shares.
Kyobo Life to go public by H1 2022
The insurer also plans to become a financial group.
UK-based reinsurance broker acquires VIB
VIB will also rebrand into BMS Korea under the BMS Asia Team.
Motor insurance leads S.Korea’s general insurance industry in 2020
The motor insurance segment grew by 11.7% in 2020.
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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.
