Country: South Korea Page 18 / 26
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- April 19 2018
Korean auto insurance slowed in 2017
The latest statistics suggest that stiff competition and lower premiums have affected profitability.
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- March 29 2018
Fubon Life to become Hyundai Life’s largest shareholder
The Taiwanese life insurance company is set to take up the forfeited options of Hyundai Mobis.
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- March 21 2018
Korea Development Bank postpones sale of life unit
The former Kumho Life will not be sold for at least two years or until it becomes more competitive.
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- March 20 2018
AIG names new head of Korea business
Douglas Min joins as president and CEO in Seoul, taking over from Steven Barnett.
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- March 13 2018
NongHyup expands insurance business in China, Vietnam
The Korean group is expanding its insurance business as part of efforts to strengthen its overseas portfolio.
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- March 7 2018
Korean insurers turn to hybrid securities to boost capital
The issuance comes ahead of the introduction of the new global accounting and stricter local capital standards.
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- March 6 2018
Korean insurers ask to postpone new capital standards
The K-Insurance Capital Standards are posing a heavy burden on the country's insurance industry.
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- February 12 2018
Samsung names new CEOs for insurance units
Samsung Life Insurance and Samsung Fire & Marine Insurance have new leaders after the resignation of the previous heads.
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- February 9 2018
Korean insurers post higher profits in 2017
The improvement is driven by hefty gains on investment coupled with a rise in interest rates.
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- January 31 2018
Korea to increase number of online insurers
The regulator's aim is to lower barriers to entry and ramp up competition in the country's financial sector.
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- January 30 2018
Chubb names Edward Ler country head for Korea
He replaces Edward Kopp, who was recently appointed country president for general insurance in Thailand.
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- January 4 2018
Korea doubles number of insurance patents
The increase is credited in part to the implementation of IFRS17, which has helped to drive innovation.
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- January 3 2018
Assets held by Korean insurers top W1,000tn
The total is broken down into W782.1tn in assets controlled by life insurers and over W252tn by non-life firms.
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- December 5 2017
Eight Korean insurers tap online-only bank
K Bank has released 20 savings and protection "mobilessurance" policies through a mobile app.
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- November 20 2017
Korean insurers ask for government help on earthquake risk
Insurers say earthquake policies will not be profitable unless the government shares a bigger financial burden.
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- November 8 2017
Korean official warns interest rate hike could disrupt insurers
FSC vice-chairman Kim Yong-beom made the pronouncement ahead of the Bank of Korea's plan to raise its key rate.
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- September 29 2017
Allianz completes sale of Korean unit to Anbang
The deal completed after the Financial Services Commission finally approved the transaction earlier this week.
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- September 28 2017
Korean insurers brace for new accounting rule
Insurance providers will have to maintain a two-track record of their financial statements, beginning next year.
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- September 21 2017
AIA denies Korea exit rumours
Group CEO Ng Keng Hooi says the company is in fact considering additional funding to comply with IFRS 17.
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- September 19 2017
Mounting debt forces Hyundai Life to cut workforce
The company has reportedly placed 120 employees under a voluntary retirement programme as it faces mounting debt.
