Country: South Korea Page 1 / 10
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- January 18 2019
Shinhan wins approval to buy Orange Life
The majority purchase of the former ING Life Korea business will give the group its second life insurer.
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- January 7 2019
Competition leads to record expenses for Korea’s P&C insurers
Marketing budgets and commissions are on the rise amid intense competition.
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- December 31 2018
South Korea bank strikes deal with Vietnamese insurer
Petrolimex Insurance Corporation and Woori Bank have signed a bancassurance agreement.
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- December 13 2018
Kyobo Life has new year IPO wish
Life insurer will raise capital next year by floating on the Korea Exchange.
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- November 6 2018
Premium hikes to help Korea’s P&C firms
However, the overall market is facing increased top-line pressures and tightening regulations.
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- October 11 2018
Korean insurers downsize to meet new rules
Life insurance companies in the country are in the process of downsizing their workforce to cut costs.
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- October 5 2018
Japan hit by eighth typhoon of the year
A stream of powerful storms in Japan is placing pressure on the country's insurers.
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- September 20 2018
Korean risk-based capital ratios rise
A modest leap in profits and investment income was among the reasons for the ratio’s improvement.
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- September 18 2018
Hyundai Life changes name to Fubon Hyundai Life
The change comes after Taiwan’s Fubon Life Insurance increased its stake to 62.4%.
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- August 28 2018
Korea’s non-life firms post 17% decline in net profit
The country's auto insurance sector has been forecast to continue to suffer a growing loss in the second half.
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- August 22 2018
Korea’s life insurers post 6.7% net profit rise
Higher investment returns drove the strong result, according to the Financial Supervisory Service.
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- August 20 2018
Korea’s financial regulator takes action against Samsung Life
The move follows a refusal to accept minimum returns guarantees for immediate payment annuities.
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- August 14 2018
Korea non-life insurers shoring up solvency capital
Companies face progressive tightening in risk-based capital measures and upward movement in interest rates.
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- August 13 2018
Competition, low premiums pull down Korean auto insurance
The country's motor market saw a 1.2% contraction during the first half of the year.
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- July 23 2018
Samsung Life selling properties to rebalance assets
The move by the country's biggest life insurer comes as it responds to the planned introduction of IFRS 17.
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- July 2 2018
Non-life market in Korea grows 1.1%
The modest growth was fuelled by an increase in the sales of savings and pension insurance products.
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- June 26 2018
Korean insurers record declining capital adequacy ratios
Industry officials have attributed the drop to a fall in the value of companies' assets.
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- June 25 2018
MBK puts ING Life Korea stake on sale again
After several failed attempts, the Korean private equity fund continue to look for a buyer for its 59.15% stake.
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- June 22 2018
Korean insurers most highly exposed to rate hikes
The central bank has warned of a corresponding drop in the solvency ratio of many insurers.
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- June 15 2018
Korea targets reinsurance liberalisation
The move is part of an effort to promote price competition in the non-life sector by the financial regulator.
