Country: South Korea Page 1 / 17
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- March 28 2022
South Korea non-life net profits increased 65.2% in 2021
As profits hit US$3.53bn, premiums climbed a more modest 2%.
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- February 21 2022
Samsung Fire & Marine sees 42.5% profit jump despite underwriting loss
The P&C player made an underwriting loss of US$458m in FY 2021 -- an improvement over FY 2020.
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- February 7 2022
Korean insurers too slow to quit coal
Samsung F&M and other Korean insurers lag global peers in adopting coal policies.
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- January 25 2022
South Korea’s digital insurers face tough road ahead
Digital disruption is starting with motor insurance. Deeper market penetration may prove harder.
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- January 18 2022
Integra signs partnership with major South Korean adjuster
Seoul-headquartered International Adjusters & Surveyors (Iasco) has over 600 staff.
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- December 24 2021
Korea’s FSC flags health, IFRS 17 as 2022 insurance priorities
The regulator has also introduced measures this year that allow insurers to expand their digital offerings.
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- December 10 2021
Korean Re’s commercial lines portfolio improves
The reinsurer is also aiming to cut its personal lines business to boost overall profitability.
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- November 26 2021
South Korea’s non-life insurers see net income jump 62.6%
This uptick was partly attributed to lower motor loss ratios due to the Covid-19 pandemic.
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- November 18 2021
KB Insurance’s underwriting boosted by fewer claims: AM Best
The firm is South Korea’s fourth-largest non-life insurer with a market share of around 13%.
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- November 16 2021
Gallagher senior appointments target Asia growth
Thomas Wang and Leng Leng Ng take on leadership roles for North Asia and Singapore.
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- November 4 2021
South Korea to ease insurance licensing rules: FSC chair
The changes reflect ongoing industry diversification such as platform-based healthcare services.
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- November 2 2021
Shinhan Financial buys Korea’s BNP Paribas Cardif GI
The move would give Shinhan a full general insurance license.
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- October 21 2021
BMS expands into Korea with broker buy
The specialist broker has bought M&A and financial lines firm VIB as part of its Asia expansion plans.
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- October 18 2021
Shinhan Life joins net-zero climate push
Commitment to limit emissions of underwriting portfolio is first for an Asian insurer and comes ahead of COP26.
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- October 12 2021
Cigna APAC deal gives Chubb Korean A&H boost: AM Best
Asia-Pacific to account for 20% of global operations once the acquisition closes.
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- September 17 2021
Samsung Re gets group captive boost: AM Best
The reinsurer is mainly focused on South-East Asia and India as GWP neared US$80m in 2020.
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- September 7 2021
Korea’s P&C space to see accelerated digital transformation: Fitch
Carrot General Insurance recently rolled out a pay-per-mile plan for electric vehicles.
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- September 3 2021
Asia’s P&C reinsurers rise in global ranking
China Re has surpassed Lloyd’s in AM Best's reinsurer Top 50 list.
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- September 2 2021
South Korea’s P&C profits under pressure as social distancing eases
Non-life income has increased by 47.5% in H1 2021 but higher loss ratios are forecast.
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- August 24 2021
Korea P&I Club’s balance sheet improves but risks remain
Rating agency report says the association bounced back to profitability in 2020 after some "unprecedented" claims in 2019.
