South Korea’s P&C profits under pressure as social distancing easesSeptember 2 2021 by Nick Ferguson
- June 14
Sompo, Tokio Marine and MS&AD to benefit from fewer claims and higher premiums, if the weather holds.
- June 8
The scheme pays out up to US$75,000 in the event of illness.
- May 20
Net profits rose by 72% in 2021 to a record-high of US$3bn in 2021, according to AM Best.
- May 2
Rating agency maintains negative outlook but says there is significant long-term growth potential.
A longer claims process and increased cost were some of the challenges faced by insurers.
Tropical cyclones have always been a significant peril in Asia and a major focus for risk assessment in the region.