South Korea

One in 200 year downpours hit South Korea, causing landslides and flash floods

July 10 2024

Torrential rains in South Korea's southern regions lead to the deaths of five people, thousands evacuated, and widespread disruption.

rga-inks-first-korean-cross-border-coreinsurance-deal-with-tongyang-life

RGA inks first Korean cross border coinsurance deal with Tongyang Life

July 2 2024

Building on agreements in Japan this year, RGA signs a 200bn Korean won (US$145m) deal with Tongyang Life.

Uncertainty surrounds Lotte Insurance sale following Woori withdrawl

June 30 2024

Lotte Insurance's stock dives, with financial conglomerate's bid withdrawal considered a major setback.

Woori to acquire Tongyang and ABL Life from China's Dajia Insurance Group - report

June 27 2024

US$2.2bn deal would see South Korean financial conglomerate pull out of other proposed acquisitions, including Lotte Insurance.

korea-finance-for-constructions-rating-affirmed-as-insurer-eyes-overseas-expansion

KFINCO's rating affirmed with Korean insurer pursuing overseas expansion

June 14 2024

Fitch affirms construction guarantee insurer's ratings, noting that limited geographic and business diversification has prompted it to explore expansion opportunities.

south-korean-motor-insurers-pay-claims-from-trash-balloons-despite-war-exclusions-report

South Korean insurers pay 'trash balloon' claims despite war exclusions - report

June 13 2024

Insurers are opting to cover motor damage, citing unusual circumstances and classifying North Korea's trash-filled balloons as "falling objects".

SEADRIF engages Gallagher Re for reinsurance broking and risk advisory services

June 5 2024

SEADRIF says it appointed the reinsurance broker to help enhance its climate and disaster risk finance capabilities in the ASEAN+3 region.

Guillaume Mirabaud appointed as CEO of AXA Thailand General Insurance

June 5 2024

Mirabaud to lead AXA Thailand General Insurance from June 2024, following his tenure as CEO at AXA Korea.

Hans Vraken appointed CEO of AXA Korea

June 4 2024

Vraken brings extensive leadership experience from his previous roles at AXA including 4.5 years as President and CEO of AXA Direct Japan.

Chubb consolidates Korean operations under Lina brand

June 1 2024

Chubb has consolidated its Korean GI, life, and telemarketing subsidiaries Korean under the unified Lina brand.

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