Wednesday, September 20, 2017

South Korea

Korea to enforce stricter monitoring on insurers

Korea to enforce stricter monitoring on insurers

Unfair and irregular sales activities will be targeted, with plans to impose sanctions against violating insurers.

Read full article

AIG loses on Fuji Life, gains on Seoul finance centre

AIG loses on Fuji Life, gains on Seoul finance centre

The expected US$30m loss on the Fuji sale will be cushioned by a deal to sell the Seoul IFC.

Read full article

Hanwha’s Vietnam strategy finally pays off

Hanwha’s Vietnam strategy finally pays off

For the first time since launching in the country, the Korean insurer has posted a profit.

Read full article

Korean authorities brace for new accounting rule

Korean authorities brace for new accounting rule

The International Accounting Standards Board is setting a schedule for the introduction of IFRS 4 Phase II.

Read full article

AXA to strengthen general insurance presence in Korea

AXA to strengthen general insurance presence in Korea

The French group says that it plans to pour in W25b (US$21.4m) into its Seoul-based subsidiary.

Read full article

Prudential sells Korean insurance business to Mirae

Prudential sells Korean insurance business to Mirae

The UK insurer announced on its website that it has agreed to sell 100% of PCA Life for US$146m.

Read full article

ICIEC, K-sure agree on mutual cooperation

ICIEC, K-sure agree on mutual cooperation

The partnership comes at a time when Korean companies are increasingly investing in ICIEC member countries.

Read full article

Korean insurers post stellar earnings in Q3

Korean insurers post stellar earnings in Q3

Samsung Fire & Marine and Dongbu have profited from big-data analysis of clients’ driving habits.

Read full article

Korean life insurers cut workforce amid profit decline

Korean life insurers cut workforce amid profit decline

The layoffs are primarily geared toward cutting costs in an environment of low interest rates.

Read full article

Profits up for Korea’s non-life insurers

Profits up for Korea’s non-life insurers

A solid performance in the auto insurance segment boosts hope amid lingering low interest rate environment.

Read full article

Korean insurers urged to improve risk controls

Korean insurers urged to improve risk controls

With global uncertainties such as protracted low interest rates, new measures are needed.

Read full article

Korean pensioners try cat bonds

Korean pensioners try cat bonds

A Korean pension fund has become the first financial institution in the country to invest in catastrophe bonds.

Read full article

Hanwha Life acquires 4.1% stake in Lending Club

Hanwha Life acquires 4.1% stake in Lending Club

Investing in the world’s largest peer-to-peer lender is part of an effort to enhance its fintech capabilities.

Read full article

Samsung shows how not to do a recall

Samsung shows how not to do a recall

The Korean company’s botched response to its exploding Note 7 smartphone provides a lesson in managing crises.

Read full article

Korean firms to face sluggish growth in 2017

Korean firms to face sluggish growth in 2017

Persistent low interest rates, weak economic growth and an ageing population are to blame.

Read full article

Koreans spend W100tn on social insurance

Koreans spend W100tn on social insurance

Costs last year increased 6.3% from the preceding year, according to the Korea Employers Federation.

Read full article

New payback scheme for savings insurance in South Korea

New payback scheme for savings insurance in South Korea

New scheme begins with completion of insurance premium payment.

Read full article

Korean savings fund to invest US$40M in cat bonds

Korean savings fund to invest US$40M in cat bonds

The Public Officials Benefit Association will choose at least two asset management firms to commit the funds.

Read full article

Partner Content

White Papers

Follow InsuranceAsia News

Print Edition

SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers