Country: South Korea Page 1 / 18
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- September 26 2022
Exclusive: Korean carriers DB, Samsung and Hyundai on the hook for Posco’s huge typhoon claims
DB Insurance provided the largest coverage to the steelmaker with around 17% exposure of the risk pool.
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- September 19 2022
‘Violent’ Typhoon Nanmadol causes havoc across Japan
The third-strongest typhoon to make landfall since records began is moving northeast raising flood warning in Tokyo.
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- September 19 2022
Korean Re’s H1 profits tumble 44% on overseas underwriting slide
The combined ratio for international business climbed to 107.4% from 96.3% in H1 2021, while overall GWP grew 10%.
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- September 13 2022
Munich Re’s former Singapore CEO joins Samsung Fire & Marine
James Park will be the head of international business for commercial lines.
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- September 12 2022
Losses mount from nat cats in Korea, Pakistan, China and India
An earthquake, a typhoon and two serious flooding events are triggering a large volume of claims.
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- September 9 2022
Korean digital insurer Carrot plans to go public by 2025
The Hanwha-owned carrier was valued at US$850m after a US$217m third-round fundraising.
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- September 8 2022
Tencent exec replaces Samsung P&C China head after capital injection
Ren Huichuan becomes interim GM with Ji Qingxie set to depart.
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- September 7 2022
LK Re eyes South-East Asia expansion with Singapore launch
The South Korean broker has eight employees in its new office in the Lion City.
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- September 2 2022
Guy Carpenter signs up Les Loh for South-East Asia, Korea role
The former Axis Re Asia Pacific president will join the broker in October.
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- August 25 2022
Tencent takes 32% stake in Samsung P&C China
The tech company becomes the second largest shareholder after CBIRC approved the insurer's plan to more than double its registered capital.
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- August 23 2022
Korea’s new standards regime and IFRS 17 to squeeze insurers’ capital buffers: Fitch
K-ICS will not materially change the underlying risk structure and will have limited rating impact.
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- August 22 2022
AM Best downgrades Korea P&I Club due to large claims
The Club is exposed to high severity losses or increased claims frequency over the medium term.
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- August 15 2022
Seoul flooding hits P&C players with ‘material’ losses
Claims from the record downpour expected to top US$115m.
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- August 10 2022
Seoul flooding leaves Korean P&C players facing thousands of claims: report
Insurers including Samsung Fire & Marine and DB Insurance said the damages amount to several billion won.
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- August 3 2022
Non-motor lines bolster Axa’s H1 Asia P&C performance
The Asia arm comprises units across mainland China, Hong Kong, Thailand, Japan and South Korea.
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- July 21 2022
Korean insurers draw coal criticism
Samsung F&M and Hyundai M&F under fire, but Kepco’s decision to exit coal signals change.
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- July 18 2022
DB Insurance benefits from underwriting improvement: AM Best
The Korean firm's five year average COR is the lowest among its domestic peers.
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- July 7 2022
Hanwha General’s underwriting measures improve performance: AM Best
Negative impact of its start-up subsidiary Carrot is also expected to decrease.
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- July 6 2022
Korea’s P&C players benefit from improved underwriting: Fitch
Profitability increased sharply in 2021.
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- July 4 2022
Korean wind projects worth US$264m GWP to insurers
Construction of 6GW of offshore wind presents risk challenges, but also an opportunity.
