Company: KB Insurance Page 1 / 1
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- February 6 2025
KB Insurance income up 17.5% to US$676m in FY24
Long-term was the only line registering growth, while the Korean carrier's general business recorded a US$18.4m loss and its motor line fell 82.2%.
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- November 1 2024
KB Insurance sees growth in capital and surplus: AM Best
The rating agency has affirmed the financial strength rating of A (excellent)for the South Korean carrier with a stable outlook.
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- June 27 2024
Korean battery plant fire claims likely to leave reinsurers unscathed
The primary insurers, KB Insurance and DB Insurance, are expected to retain the losses from the blaze at the Aricell unit as property and liability claims are expected to be relatively low, InsuranceAsia News understands.
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- March 11 2024
Overseas premium of Korea’s four major non-life insurers surpasses trillion-won milestone in 2023: report
The country’s big four have doubled their international business in the last five years led by DB Insurance, which accounts for 50% of the overseas premium.
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- March 6 2024
Analytics: Motor results shore up Korean majors’ FY23 underwriting performance
While the carriers have seen strong premium growth in the past year, their long-term and commercial businesses' underwriting returns remain under pressure and weighed on overall results.
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- December 5 2023
KB Insurance Indonesia’s 9M COR at 70%, premium retention improving on motor focus: Fitch
The rating agency affirmed the carrier’s rating with a stable outlook, as GWP growth outperforms industry average.
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- November 15 2023
KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re
With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.
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- November 3 2023
KB Insurance improving profitability, investment returns: AM Best
AM Best has affirmed its rating of A (excellent) with a stable outlook, citing the firm’s strong balance sheet, adequate operating performance, neutral business profile and parent support.
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- August 15 2023
KB Insurance H1 2023 underwriting profit at US$400m
The Korean P&C carrier's direct written premiums for the period increased 4% year-on-year to KRW6.4tn.
