Country: South Korea Page 1 / 28

- March 17 2025
Korean regulator to promote parametrics, support carriers’ overseas expansion to tackle emerging risks
- Climate
- South Korea
- Financial Services Commission
The FSC has announced 11 proposals to address five major challenges – climate, overseas expansion, technology, population, and debt management.
- March 17 2025
Seoul Guarantee shares rally 23% on Kospi debut
- M&A
- South Korea
- Seoul Guarantee Insurance
Insurer also confirms a 2024 year-end dividend of US$138m for investors holding shares through April.
- March 13 2025
Korean regulator to relax insurers’ capital adequacy requirement to 130-140%: report
- Regulatory
- South Korea
The move will help lower financial burden for insurers, apart from raising their capital base.
- March 13 2025
Meritz Fire & Marine withdraws offer to buy troubled MG Non-Life
- M&A
- South Korea
- Meritz Fire & Marine Insurance
- MG Non-Life Insurance
South Korean insurer could face liquidation as the Korea Deposit Insurance Corporation (KDIC) evaluates its options.
- March 10 2025
KDIC recovers US$125m in public funds from Seoul Guarantee IPO
- M&A
- South Korea
- Seoul Guarantee Insurance
The state-owned Korean Deposit Insurance Corporation sold 10% (6,982,160 shares) of its total issued shares (93.85%) through the listing of Seoul Guarantee, and is expected to sell the remaining equity to recover an additional US$3.4bn.
- March 5 2025
Seoul Guarantee prices IPO at bottom end of range to raise US$124m
- Fund raising
- South Korea
- Seoul Guarantee Insurance
KDIC-owned surety and credit insurer will offer shares at US$17.8 apiece and will start trading on March 14.
- February 21 2025
Hyundai Insurance’s FY24 underwriting income slumps 22% to US$245m
- Results
- South Korea
- Hyundai Insurance
Commercial business' underwriting income more than doubles, while long-term lines grow by 247.6%.
- February 21 2025
DB Insurance underwriting profit up 4.5% to US$1.1bn
- Results
- South Korea
- DB Insurance
Underwriting profit went up only because of the commercial line performance that saw a US$71m profit compared with US$85m loss last year.
- February 21 2025
Samsung Fire & Marine’s expects ‘no impact’ on profits, capital after rejig: report
- M&A
- South Korea
- Samsung Fire & Marine
Samsung Life is seeking to make the South Korean non-life insurer its subsidiary and clarified that it has no plans to expand its holdings.
- February 17 2025
Seoul Guarantee scales down IPO valuation by 39% to US$1.5bn: reports
- Fund raising
- South Korea
- Seoul Guarantee Insurance
Korean surety and credit insurer reduces its expected offer price range to US$18-22 per share from US$27-36.
- February 14 2025
Samsung Life seeks regulatory nod to incorporate group P&C arm as subsidiary: reports
- M&A
- South Korea
- Samsung Fire & Marine
Insurer approaches Financial Services Commission over a potential incorporation of Samsung Fire & Marine Insurance, according to the Korea JoongAng Daily.
- February 13 2025
Hanwha denies reports of selling Carrot Insurance stake amid financial strains
- M&A
- South Korea
- Carrot Insurance
- Hanwha General Insurance
Korean insurtech startup has been posting losses every year since its establishment in 2019.
- February 13 2025
MG Non-Life sale: KDIC files injunction plea against union
- M&A
- South Korea
- Meritz Fire & Marine Insurance
- MG Non-Life Insurance
Troubled insurer’s labour union has been disrupting the due diligence process by prospective buyer Meritz Fire & Marine.
- February 12 2025
Samsung Fire & Marine FY24 insurance profit down 6% at US$1.3bn
- P&C
- South Korea
- Samsung Fire & Marine
South Korean carrier's motor insurance COR deteriorated to 98.3% in FY 24 from 96.6% last year, while the P&C business' loss ratio for the period worsened to 64.4% from 61% in FY23.
- February 10 2025
MG Non-Life owner to move court as talks with union break down: report
- M&A
- South Korea
- Meritz Fire & Marine Insurance
- MG Non-Life Insurance
Korea Deposit Insurance Corporation's sale of the insurer to Meritz Fire & Marine has been stuck over the labour union's opposition.
- February 6 2025
KB Insurance income up 17.5% to US$676m in FY24
- Results
- South Korea
- KB Insurance
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%.
- February 4 2025
Samsung Fire & Marine may become subsidiary of group’s life arm: report
- M&A
- South Korea
- Samsung Fire & Marine
Samsung Life's shareholding may cross the 15% threshold following the P&C insurer's proposed share buyback plan, according to a report in Korean business paper Chosun.
- January 24 2025
Seoul Guarantee revives listing plan, files for up to US$155m IPO
- Capital Markets
- South Korea
- Seoul Guarantee Insurance
The Korean surety and credit insurer plans to list in March and its parent KDIC will sell a 10% stake.
- January 20 2025
South Korea braces for Trump tariffs with US$69bn trade insurance support: report
- Trade Credit
- South Korea
K-Sure will provide trade cover for SMEs, offering lower interest rates and expanded guarantee limits, according to a report in The Korea Herald.
- January 20 2025
Korean insurers to cut motor premiums despite worsening loss ratios: report
- Motor
- South Korea
In the fourth consecutive year of rate reductions, major non-life insurance companies will reduce premiums by an average of 0.5-1% this year.

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