Country: South Korea Page 9 / 25
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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.
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- June 9 2022
Pressure group reveals insurers of Asian coal plants
Starr, Liberty, Berkshire, Allied and Lloyd’s named as the industry’s ‘last lifeline’.
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- May 20 2022
South Korea’s non-life players see underwriting profit boost
Net profits rose by 72% in 2021 to a record-high of US$3bn in 2021, according to AM Best.
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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.
