Country: South Korea Page 1 / 10
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- September 20
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
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
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
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
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
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
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
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
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
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
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
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
Korea targets reinsurance liberalisation
The move is part of an effort to promote price competition in the non-life sector by the financial regulator.
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- June 7
MBK Partners stalls proposed sale of ING Life stake
KB Financial Group has pulled out of talks for an acquisition that could have cost as much as US$2.3bn.
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- June 5
AXA, Zikto to develop blockchain-based insurance products
The agreement will integrate the Insureum Protocol across the entire spectrum of insurance processes.
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- June 5
Korea to welcome more reinsurers
The financial regulator has announced landmark plans to ease entry barriers and compete with Korea Re.
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- May 29
Korean non-life insurers see fall in profits
The loss was partly attributed to accidents arising from cold weather conditions, government data shows.
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- May 24
Korean life insurers see net profits fall
Dwindling sales of savings-type products and weaker investment returns are reducing income.
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- May 17
Allianz Global Corporate & Specialty targets Korea growth
The new branch earned €40 million in total premiums in 2017, roughly 10% of its overall Asia business.
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- May 16
Fubon Life’s plan to raise stake in Korea unit still holds
It is determined to carry on with its proposal to raise its share in Hyundai Life Insurance to 62%.
