The hub has succeeded in attracting capital and reinsurers; now the challenge lies in developing the expertise needed to underwrite complex risks locally.
From 1 November, the revised rules require insurers to set up product committees led by their principal executive, conduct regular product reviews and strengthen accountability for product failures.
Fewer troubled member builders, better recoveries and bigger budgets for state-led projects should lift results at the Korean guarantor after weak profitability since 2023.
The insurer's potential exposure will hinge on legal and contractual proceedings following the project's termination over force majeure and war-risk circumstances.
