South Korea

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 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’

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.

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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.

South Korea's non-life insurers restructure workforce amid digital transformation: report

August 5 2024

Voluntary retirement programs could signal shift toward more digital channels in South Korea's non-life insurance sector.

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High valuations stall insurance industry M&A in Korea

August 2 2024

The country’s life and non-life M&A market continues to stagnate despite broader economic deal-making activity.

Proposed sale of South Korea's MG Non-Life Insurance fails for third time - report

July 22 2024

Sale halted once more after failing to secure concrete interest from enough bidders.

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New law sparks surge in digital asset insurance products in South Korea

July 19 2024

Carriers rush products to meet demand as Virtual Asset Users Protection Act goes live, but face high risks due to volatility and complexities in the segment.

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Hyundai Marine & Fire’s ratings affirmed with rate hikes balancing increased medical claims

July 18 2024

Strategic rate increases, efforts to improve medical indemnity loss ratio underscores AM Best's stable 'A' IFS rating for Korean insurer.

South Korea's insurers see capital adequacy ratios fall 8.6pp in Q1 2024

July 13 2024

Market and op risks have seen required capital to rise in Q1.

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