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Emerging risks | Growth Opportunities | APAC Insurance

(Re)in Asia logo
Tuesday, September 29, 2026

South Korea

la-wildfires-drive-insured-loss-estimates-as-high-as-us45bn
LA Wildfires: insured losses projected up to US$45bn
January 21 2025
Industry losses estimated between US$10bn and US$45bn, with some Asia (re)insurers facing exposure.
mg-non-life-faces-liquidation-risk-with-potential-sale-in-deadlock-report
MG Non-Life faces liquidation risk with potential sale in deadlock: Report
January 17 2025
Sale attempt woes continue as union blockades stall Meritz Fire & Marine's bid.
korean-insurers-could-see-losses-of-over-us70m-from-la-wildfires-report
Korean insurers could see losses of over US$70m from LA wildfires: Report
January 17 2025
DB Insurance and Korean Re among those exposed to losses from wildfires.
miller-announces-key-hires-for-newly-launched-south-korean-operations
Miller announces key hires for new Korea operations
January 14 2025
Ex-Marsh Korea CEO David Kim leads new operations, supported by key hires Andrew Kim, Youngkum Yoon, and Tae Hoon Kim.
korean-life-insurers-face-falling-interest-rate-challenge-in-2025
Korean life insurers face falling interest rate challenge in 2025
January 9 2025
Premium sales figures and solvency capital levels are both under pressure from the BOK’s October reversal of interest rate policy.
koreas-life-insurance-industry-to-top-us140bn-by-2029-globaldata
Korea’s life insurance industry to grow steadily to US$140bn by 2029: GlobalData
January 6 2025
South Korea's life insurance market is set to grow to KRW206.2 trillion by 2029, driven by economic recovery and an ageing population.
jeju-air-crash-may-lead-to-insurance-loss-of-up-to-us180m
Insurance claims from Jeju Air crash estimated between US$135m and US$200m
January 2 2025
Samsung Fire & Marine the lead insurer, with early claims estimate up to US$200m across passenger liability and hull.
am-best-upgrades-korean-res-icr-rating-citing-improved-balance-sheet-strength
AM Best upgrades Korean Re's ICR rating, citing improved balance sheet strength
December 13 2024
Increased available capital, continued profit retention, and reduced underwriting risk underline ratings upgrade.
meritz-fire-named-as-latest-preferred-bidder-for-mg-insurance-acquisition-reports
Meritz Fire selected as leading bidder for latest MG Insurance sale attempt - reports
December 10 2024
Acquisition marks the fifth attempt to secure a buyer for the firm amid financial and regulatory issues.
meritzs-long-term-business-posts-lowest-cor-among-peers-in-2023-am-best
Meritz's posts lowest long-term insurance COR among peers in 2023: AM Best
December 9 2024
AM Best affirms South Korean insurer's ratings, highlighting strong investment and low loss ratio.
south-koreas-insurance-sector-sees-13-2-rise-in-net-income-for-9m-2024
South Korea's insurance sector sees 13.2% rise in net income for 9M 2024 
November 27 2024
Premiums increased 4.8% according to preliminary data from the FSS, but regulator notes concerns over global market uncertainties and potential losses from real estate project financing.
nonghyup-p-and-c-sees-capital-rise-under-ifrs-17-but-underwriting-hit-by-claims-in-2023-am-best
NongHyup P&C sees capital rise under IFRS 17, but underwriting hit by large claims in 2023: AM Best
November 26 2024
Korean insurer's ratings affirmed, with future underwriting performance supported by CSM base, though its capital is more exposed to volatility than domestic peers.
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25 September