South Korea

South Korea's FSS slows discount rate rules to relieve solvency pressures for non-life insurers — AM Best

December 17 2025

The move to slow the cuts is a direct response to market conditions, according to AM Best.

south-korea-insurers-expected-to-introduce-premium-increases-amid-rising-losses

Rising health and motor claims push South Korean insurers toward premium hikes, benefit reductions in 2026

December 10 2025

Loss ratios at major carriers are approaching 100% after climbing for six consecutive quarters, according to analysis by Daishin Securities.

Coupang data breach exposes Korea's mandatory cyber insurance gap with Meritz policy capped at US$682k

December 9 2025

The breach exposed personal data from 33.7 million accounts, leaving Coupang facing potential compensation claims of trillions of KRW, far exceeding the insurance policy’s limit.

guy-carpenter-wins-singapore-high-court-case-against-ex-staff-lk-re-over-samsung-fire-amp-marine-business

Guy Carpenter wins Singapore High Court case against ex-staff, LK Re over Samsung Fire & Marine business

December 8 2025

Court found two brokers and LK Re liable for conspiring to divert SFIMI account, which resulted in an estimated US$1.3m in lost brokerage revenue.

Evolving combined ratios highlight changing risk patterns in Asia-Pacific non-life insurance

December 5 2025

Gallagher Re report shows mix of underwriting recoveries, loss spikes, and changes in business mix is moving region beyond its motor-led growth model.

south-koreas-nonghyup-property-and-casualty-insurance-gets-affirmed-credit-ratings-on-strong-balance-sheet-parental-support-am-best

AM Best affirms NongHyup P&C’s ratings as CSM growth slows amid regulatory shifts

December 2 2025

NongHyup P&C’s 2024 combined ratio stood at 95.1%, with underwriting performance steady amid sector and regulatory changes.

Asia Pacific's life insurers set to achieve 7.3% CAGR, reaching US$1.6tn by 2029: GlobalData

November 25 2025

This growth is driven by the emerging silver economy, regulatory reforms, the high-net-worth market, and AI adoption.

Meritz Fire’s strong ROE, capital resilience underpin AM Best’s rating affirmation

November 25 2025

The insurer posted a 30.5% return on equity in 2024, driven by strong long-term insurance profits and high-yield investments.

korean-regulators-and-insurance-associations-sign-mou-to-tackle-rising-motor-insurance-fraud

Korean regulators and insurance association sign MOU to tackle rising motor insurance fraud

November 14 2025

The collaboration aims to share information and improve detection using traffic accident reconstruction programmes and CCTV footage analysis.

Fitch affirms Seoul Guarantee Insurance rating amid rising combined ratio

November 12 2025

SGI’s combined ratio rose to 94% in 1H25, but strong investment returns helped offset underwriting losses, Fitch reports.

Miller targets maturation of Japan, South Korea operations

November 5 2025

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

gallagher-re-sees-opportunities-in-south-korea-thailand-and-india-as-markets-return-to-growth

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

November 4 2025

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

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