Saturday, January 20, 2018

Assets held by Korean insurers top W1,000tn

Total assets held by private insurance firms in South Korea reached W1,000 trillion (US$926 billion) in 2016, according to industry data recently released.

The 2016 insurance statistics yearbook released by Korea Insurance Development Institute revealed that the combined assets of local insurers topped W1,034 trillion as of last year.

The total is broken down into W782.1 trillion in assets controlled by life insurers and over W252 trillion in assets operated by non-life insurance firms.

The aggregate asset value represents a two-fold increase from six years earlier, particularly in 2010, when total assets held by insurers were only valued at W500 trillion (US$463 billion).

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