South Korea

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APAC insurance markets brace for impact as US-China trade tensions soar

April 15 2025

Region's insurers face challenges including market volatility, slower premium growth, and increased hedging costs.

Over 5,000 insurance claims lodged after South Korea wildfires, assessments ongoing: Report

April 14 2025

Crop loss claims dominate claims following wildfires in Uiseong and Sancheong Counties.

Korean insurers consider launching earthquake cover following Japan quake: Report

April 9 2025

Earthquake cover is not currently a stand-alone product in the market, but recent events are prompting a reassessment of risk.

Bermuda Monetary Authority calls for more visibility on asset-intensive reinsurance deals

April 9 2025

BMA mandates stricter disclosure requirements amid rise in AIR deals, including in Asia.

japans-insurance-industry-to-top-us400bn-in-2029-globaldata

APAC cedents capitalise on softening market at April renewals

April 7 2025

Carriers secured favourable reinsurance terms amid strong competition and abundant capital, though rising catastrophe losses could limit future rate reductions.

Chubb launches expanded life sciences insurance offering

April 3 2025

The Premier Life Science policy provides coverage across multiple lines of business to life sciences companies in Singapore, Australia, Hong Kong, and Korea.

South Korea wildfires to have limited impact on insurers' ratings, says S&P

April 3 2025

However, more extreme events this year could strain earnings and increase reinsurance costs, rating agency says.

Aon estimates South Korean wildfire economic losses in the hundreds of millions of dollars

March 31 2025

Fires are ongoing but are already the most destructive in the country's history.

South Korea battles historic wildfire emergency

March 28 2025

Country facing its worst ever wildfire crisis, with over 20 fires causing 28 fatalities and displacing more than 37,000 residents since 21 March 2025.

south-koreas-proposed-capital-changes-could-spark-insurance-industry-consolidation

Mandatory core capital requirement could spark consolidation in South Korea's insurance industry

March 27 2025

Mid-sized and smaller insurers likely to face "significant challenges" meeting proposed capital change.

Wongi Kim to succeed Andy Ryoo as Allianz Trade's South Korea Country Manager

March 25 2025

Ryoo to step down after 22 years with the business.

Aon hires Esther Kim as Director, Treaty

March 21 2025

She moves to Aon from Swiss Re, where she served since 2022.

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