South Korea insurance – (Re)in Asia

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Asia's space growth outpaces local capacity as insurers rebuild after heavy losses

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APAC buyers rethink civil unrest cover as standalone protection gains traction

Large multinational companies are increasingly considering standalone political violence cover while SRCC is commonly incorporated into property insurance in parts of Asia.

Thailand leads Asia commercial rate declines in Q3 as property softening deepens

Taiwan, South Korea and Malaysia followed with declines of 15%, 13% and 10%, while Japan and Vietnam were the only markets to record increases, according to Marsh.

Shinhan Financial to acquire 77% of Lotte Non-Life for US$516m

The group plans to merge the insurer with Shinhan EZ General Insurance and inject capital ahead of tighter K-ICS requirements.

Asia's space growth outpaces local capacity as insurers rebuild after heavy losses

Asia's commercial space sector is expanding faster than local insurance capacity, leaving operators reliant on overseas reinsurers as orbital congestion emerges as a new underwriting risk.

Asia's life insurers rethink products as surrender trends test customer retention

Policy surrenders have surpassed maturity payouts in India, while Korea has seen cancellations rise 62.7% in early 2026.

Statutory floor, compliance mindset leave Korean firms underinsured on cyber risks

Voluntary premiums are climbing fast, yet many firms still carry too little cover for their real exposure.

Participating policies gain favour among Chinese P&C insurers as low-yield pressures mount

Insurers across China, Taiwan and South Korea are bolstering capital buffers and refining investment strategies as low rates and volatility strain traditional earnings models.

Korea non-life insurers post 4.9% Q1 premium growth, but profits fall on higher claims, weaker investments

Claims and investment pressure dragged net income down 10.7% year-on-year, even as long-term non-life premiums held firm and GI growth accelerated.

South Korea's DB Insurance completes US$1.65bn acquisition of Fortegra

Fortegra will operate independently under its existing leadership as the two companies target growth across the US, Europe and Asia.

Korea launches marine war-risk pool for ships in the Strait of Hormuz

The KRW300bn (US$197.5m) facility aims to ease costs and secure cover for smaller Korean shipping firms exposed to heightened Middle East risks.

Korea non-life insurers post 18% surge in premiums in Q4 as claims ease, profits recover

Long-term retirement products fueled a near-18% premium increase, but several specialty GI lines lost ground.

Autonomous vehicles drive APAC insurers toward new liability era as robotaxis ramp up

Robotaxis are giving commercial shape to APAC’s broader AV market, but insurers remain constrained by limited data, fragmented regulation, and unresolved liability questions.

Vietnam breaks from Asia’s soft market trend as commercial rates rebound to 15% in Q4

Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.

Japan and India buck regional slide as Asia-Pacific insurance dealmaking declines further in 2025

With only two $1bn-plus transactions all year, buyers shifted toward smaller, distribution-led plays and selective cross-border bets.

South Korea sets 2027 rollout, phase-in plan for insurers’ core capital K-ICS rule

FSC will introduce company-specific benchmarks and stricter redemption rules as part of a phased core capital rollout.

HDI Global opens Seoul office to expand APAC reach

Ki Hyung Jo has joined as Korea market lead, with HDI to offer local clients access to insurer's existing product range and new specialty solutions, such as cover for K-pop events.

Miller targets maturation of Japan, South Korea operations

Regional Chief Exec looks to build both markets to align with Singapore’s product line.

South Korea, Thailand, India on Gallagher Re's radar for regional growth

Broker's head of APAC looks to build on momentum in Asia-Pacific following acquisitions in China and Australia earlier this year.

South Korea's commercial insurance rates fall 25% in Q2 as softening trend continues across Asia

Intense competition drives broader coverage and more favourable terms amid falling premiums across the region.

Korea lowers recommended capital adequacy ratio to 130%

The FSC did not announce changes to the mandatory core capital requirement but said discussions will follow in the second half of the year.