South Korea

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South Korea's first fully-licensed pet insurer to launch in July

June 16 2025

MyBrown will offer small-sum, short-term insurance products.

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Korea lowers recommended capital adequacy ratio to 130%

June 12 2025

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

KFINCO’s rising policy role in South Korea’s construction sector prompts Fitch upgrade

June 10 2025

New A+ rating reflects construction guarantee insurer's strong capital position and key policy role, Fitch says.

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Regulatory changes and interest rate shifts test South Korea’s non-life insurers: AM Best

June 5 2025

Ratings agency maintains stable outlook for the sector, with long-term insurance and steady investment helping to offset changing capital pressures.

Gallagher Re appoints Chulmin Jang as Korea CEO

May 28 2025

Jang brings extensive experience and joins from Aon Re to take on the new role.

Hanwha Life’s shift towards protection products prompts Moody’s upgrade

May 27 2025

The upgrade follows a rise in return on capital to 3.4% and a maintained solvency ratio of 163.7% despite market pressures.

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KDB Life at risk of 'troubled firm' status after capital adequacy decline

May 22 2025

The insurer cites IFRS 17 and lower discount rates as reasons for its capital drop, but says it can still meet policyholder obligations.

Korean Re lands first-time 'A1’ IFS rating from Moody’s

May 21 2025

The reinsurer posted a high Korea Insurance Capital Standards (K-ICS) ratio at 191.7% in 2024, indicating sufficient capacity to handle unexpected losses.

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Woori Financial Group selects CEOs for Tongyang Life, ABL Life: Reports

May 20 2025

Group is set to acquire both insurers later this year.

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Pacific Life Re promotes Kenichi Kim to Head of South Korea

May 19 2025

He first joined the business in 2022.

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