Country: South Korea Page 1 / 30
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- August 7 2025
K-Sure provides US$350m guarantee for purchase of 6 Korean tankers by US shipping firm: report
Support includes US$300m buyer credit guarantee for International Seaways and a US$50m refund guarantee for K Shipbuilding.
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- July 29 2025
Japan, Korea wildfires mark turning point in regional climate risk understanding: Willis
Insured losses from nat cats 'will very likely' exceed US$100bn again this year, the broker said in a half-year report.
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- July 28 2025
Construction Guarantee’s underwriting losses to continue for the short to medium term: AM Best
Korean insurer has reported two consecutive years of underwriting losses in 2023 and 2024, as well as another loss in H1 2025.
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- July 22 2025
South Korea flood motor claims rise to US$22m: report
At least 17 people died in floods and landslides caused by the torrential rain, which started last week and intensified over the weekend.
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- July 21 2025
DB Insurance’s operating performance and capital remain strong despite unfavourable economy: AM Best
Rating agency has affirmed the financial strength rating of A+ (superior) and the long-term issuer credit rating of “aa-” (superior) of the South Korean insurer.
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- July 18 2025
South Korea hit by torrential rain with 4 dead, 500 properties damaged
Over 400mm of rain fell over three days, with most rain-related fatalities reported in South Chungcheong province.
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- July 14 2025
Miller launches South Korea marine practice after Marsh team raid
KyungSeop (KS) Shim will lead the new team as head of specialty, and is joined by Justin Roh, Hana Jung, and Jayce Park.
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- July 2 2025
South Korea’s DB Insurance leading the race for US insurer Fortegra: reports
The approximately US$1.5 billion deal for the Florida-based specialty insurer is expected to be finalised by August.
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- July 2 2025
Korea mulls restarting MG Non-Life sale process, but will persist with liquidation process: reports
KDIC said it has reached agreement with insurer's labour union to pursue both the transfer of insurance contracts to five non-life insurers and the sale.
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- June 25 2025
Everest Insurance launches Korea desk, led by Brian Jee
Singapore-based Jee joined Everest two years ago from Chubb as a senior underwriter.
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- June 24 2025
Korean insurers to face capitalisation pressure due to falling interest rates, tighter norms: Fitch Ratings
Ongoing volatility in investment returns amid financial market uncertainty could challenge the overall stability of insurers’ profitability, according to the global rating agency.
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- June 18 2025
South Korean insurers’ K-ICS ratio falls below 200% for the first time, standing at 197.9%
The ratio for non-life insurers decreased by 3.4 percentage points to 207.6% at the end of March compared to 3 months earlier, while that of life insurance companies fell 12.7 percentage points to 190.7%.
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- June 11 2025
South Korea slashes recommended CAR for insurers to 130%: report
Financial Services Commission will remove requirements related to net loss and insurance operating loss from the conditions for reversing emergency risk reserves.
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- June 11 2025
Samsung Fire & Marine to buy additional 21% stake in Canopius
Transaction will increase the Korean insurer's total share to 40%.
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- June 9 2025
Miller expands in Korea as Marsh’s Justin Roh takes on senior vice president role
Seoul-based Roh brings over two decades of marine insurance and legal expertise to support Miller’s Asia expansion strategy.
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- June 4 2025
South Korean non-life insurers face capital pressure as liabilities rise: AM Best
Long-term insurance premium growth may face headwinds from macroeconomic uncertainties, while intensified competition could undermine sustainable growth as the market becomes saturated.
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- May 28 2025
Gallagher Re taps Aon Re’s Chulmin Jang as Korea CEO
Jang succeeds Phil Won Jeong, who will become chairman of Gallagher Korea.
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- May 15 2025
South Korean insurers see steep solvency decline amid rising liabilities: reports
Insurance Financial Solvency Ratio for non-life insurers dropped by 16% percentage points quarter on quarter to 211%.
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- May 15 2025
Vietnam’s PVI partners South Korea’s EGI for engineering guarantee insurance foray
Cooperation aims to create favourable conditions for South Korean construction enterprises to participate in infrastructure projects in Vietnam.
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- May 13 2025
Korea’s FSC to establish bridge insurer for MG Non-Life reorganisation: report
Temporary insurer will be funded by Korea Deposit Insurance Corporation to manage the troubled carrier's insurance contracts and transfer to other non-life carriers.
