South Korea

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.

korean-guarantee-insurance-payouts-rise-as-economy-falters-report

Samsung Life secures approval to incorporate Samsung Fire & Marine as subsidiary: Report

March 20 2025

Both insurers say transition will not impact their governance, operations, or financial stability.

Woori’s insurance acquisitions likely to proceed despite FSS rating downgrade: Report

March 19 2025

The FSS has downgraded Woori’s management rating from Grade 2 to Grade 3.

south-korean-financial-sector-faces-up-to-us31-49bn-in-climate-related-losses

Climate risks could cost South Korean banks and insurers up to US$31bn: Bank of Korea

March 18 2025

Stress test indicates up to KRW45.7 trillion in combined losses by century's end without climate change policies.

aia-collaborates-with-blackrock-and-bny-to-strengthen-investment-platform

AIA Korea, Kakao Healthcare sign MOU for digital health collaboration

March 17 2025

Partnership aims to integrate AI-driven healthcare solutions to enhance personalised health management and chronic disease prevention in South Korea.

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Singapore ranks fourth globally for cyber in resilience index

March 17 2025

FM's risk assessment of 130 countries also shows Singapore ranks third for climate risk quality.

kdic-recovers-us124-4m-via-seoul-guarantee-insurance-ipo

Seoul Guarantee Insurance shares rise over 20% on Kospi debut as KDI recovers US$124m from IPO

March 14 2025

SGI’s stock surged, driven by investor interest in its dividend policy and long-term shareholder return commitments.

south-korea-to-introduce-mandatory-core-capital-ratio-for-insurers-report

South Korea to mandate core capital ratio for insurers: Report

March 14 2025

New thresholds for core capital and solvency ratios are expected to be confirmed by mid-year.

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