South Korea

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 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.

Korea's GI industry to grow 5% in 2024: GlobalData

November 22 2024

Motor and liability to drive growth in 2024, with GlobalData forecasting a 5.2% CAGR through to 2029.

AIA elevates Fisher Zhang to Regional Chief Executive

November 22 2024

Zhang will take on responsibility for China, South Korea, and Vietnam, pending regulatory approvals.

Seoul Guarantee Insurance experiencing rise in COR, but normalisation anticipated in 2025: Fitch

November 21 2024

Economic conditions have impacted SGI's underwriting performance, but strong investment has provided stability.

Hanwha Life teams up with Stanford University for AI project

November 20 2024

Hanwha Life is exploring four AI-related issues: asset management, digital personas, healthcare, and governance.

new-regulations-enhancing-focus-on-long-term-profitability-for-koreas-non-life-insurers-am-best

New regulations raising long-term profitability focus for Korea's non-life Insurers: AM Best

November 15 2024

AM Best maintains stable outlook for segment, reflecting long-term insurance growth and underwriting resilience, despite market challenges.

south-koreas-insurance-industry-to-reach-us180bn-by-2029

South Korea’s insurance industry to hit US$180bn in 2029: GlobalData

October 25 2024

3.4% CAGR estimate driven by country’s ageing population and rising demand in health and retirement coverage.

RGA upsizes asset intensive reinsurance deal with Tongyang Life

October 24 2024

US firm expands transaction by 200m Korean won as reinsurers increasingly turn their attention to Asia Pac.

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