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Emerging risks | Growth Opportunities | APAC Insurance

(Re)in Asia logo
Wednesday, October 21, 2026

South Korea

koreas-life-and-non-life-segments-see-contrasting-net-income-results-in-1h-2024
Korea’s life and non-life segments see contrasting net income results in 1H 2024
September 3 2024
Life sees 9.4% decline amid significant drop in investment income, while non-life reports 12.2% growth.
fitch-upgrades-hanwha-lifes-outlook-on-improved-profitability-and-capital-position
Fitch upgrades Hanwha Life's outlook on improved profitability and capital position
August 30 2024
New capital standards help to boost capital strength, with Fitch affirming ratings alongside outlook revision.
koreas-fsc-chief-urges-insurers-to-prioritise-swift-claims-payments-trust-building-report
Korea’s FSC Chief urges insurers to prioritise swift claims payments, trust-building
August 29 2024
Kim Byoung-hwan emphasised October deadline to digitise insurance claims, while also calling for insurers to invest in ways that boost the economy.
woori-to-acquire-tongyang-and-abl-life-from-chinas-dajia-insurance-group-report
Woori signs deal to acquire Tongyang Life and ABL Life for US$1.16bn
August 29 2024
Woori Financial Group aims to diversify portfolio with acquisitions, but faces regulatory scrutiny due to recent loan scandals.
korea-p-and-i-club-ratings-affirmed-amid-strategic-underwriting-overhaul-due-to-large-claims
Korea P&I Club's ratings affirmed amid strategic underwriting revamp
August 26 2024
AM Best affirms B++ ratings KP&I's risk while noting the club has reduced its exposure to larger-sized vessels.
korean-insurers-reviewing-ev-policies-and-premiums-amid-fire-incidents
Korean insurers reviewing EV policies and premiums: Report
August 26 2024
Korean insurers likely to raise rates, amid general EV growth and recent high-profile incidents.
proposed-sale-of-south-koreas-mg-non-life-insurance-fails-for-third-time
Sale of MG Insurance fails for fourth time - report
August 20 2024
Sources reveal that the KDIC is now looking to move forward with the sale via private contacts. 
hanwha-general-insurance-has-ratings-affirmed-amid-efforts-to-scale-digital-subsidiary
Hanwha General Insurance has ratings affirmed amid efforts to scale digital subsidiary
August 19 2024
AM Best affirms Hanwha General Insurance's ratings while highlighting its efforts to expand Carrot General Insurance.
meritz-fire-confirms-participation-in-mg-insurance-acquisition-race-reports
Meritz Fire confirms participation in MG Insurance acquisition race: Reports
August 12 2024
The company joins Dayli Partners and JC Flowers in the fourth preliminary bid for MG Non-Life Insurance, which is set for Thursday. 
south-koreas-abl-life-launches-women-exclusive-health-insurance
South Korea’s ABL Life launches women-exclusive health insurance products
August 9 2024
The new insurance offering includes coverage for female diseases, cancers, and major life stages. 
fitch-korean-insurers-foreign-commercial-real-estate-losses-tolerable
Fitch: Korean insurers foreign commercial real estate losses ‘tolerable’
August 7 2024
Korea’s insurers have felt the pinch from the global CRE downturn but strong capital levels mean that any pain should be manageable by the sector.
woori-to-acquire-tongyang-and-abl-life-from-chinas-dajia-insurance-group-report
Woori Financial signs MoU to acquire Tongyang and ABL Life Insurance - report
August 6 2024
Woori is now conducting due diligence on potential acquisition which would see it become the sixth largest life insurer in South Korea.
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