South Korea

Hana Financial Group emerges as preferred bidder for KDB Life acquisition

July 14 2023

Due diligence is still required before reaching a final decision is made on the deal.

south-koreas-insurance-industry-faces-economic-uncertainties-as-life-insurance-premiums-dip-in-2023

South Korea's life premiums expected to dip in 2023

July 14 2023

The 2023 forecast was reevaluated, taking into account the evolving economic landscape, financial conditions, and sales environment.

A photo of people holding up bid cards. Hana Financial and KDB Life logos in top left corner.

Hana Financial Group joins bid to acquire KDB Life: Report

July 10 2023

The bid is seen as a means to remain competitive with direct rivals, who are also strengthening their non-banking arms through separate acquisitions.

south-koreas-hanwha-general-insurance-retains-high-financial-strength-ratings

South Korea's Hanwha General Insurance retains excellent strength ratings

July 7 2023

AM Best maintained the strength ratings of South Korea's sixth largest P&C, with its focus on long-term insurance a key factor.

am-best-maintains-stable-outlook-on-south-koreas-pc-segment-despite-new-guidance-on-actuarial-assumptions

AM Best maintains stable outlook for South Korea's P&C segment despite new IFRS 17 guidance

June 28 2023

High-margin health products set to provide stable growth despite pressure on motor segment's combined ratio and concerns about IFRS 17 assumptions.

Korea Specialty Contractor Financial Cooperative earns a strong rating from Fitch Ratings

June 26 2023

KSCFC is a Seoul-based firm established in 1988 to support the domestic construction industry by offering guarantee and insurance services to its member companies.

Korean regulator issues IFRS 17 guidance after Q1 results

June 26 2023

Non-life insurers’ sale of long-dated products distorted first set of results under the new standard.

Korean Insurance Research Institute: shortage of skills and internal expertise is biggest obstacle to digital transformation

June 23 2023

Korean insurers appear to be making progress on digital transformation in the post-Covid 19 era, but barriers remain.

Seoul Guarantee Insurance set to go public in Q4

June 21 2023

Korea Exchange (KRX) has received an application from SGI with a listing expected to take place in Q4 this year.

south-koreans-db-insurance-takes-vietnamese-bull-by-the-horns-with-75-stake-in-saigon-hanoi-insurance

South Korea's DB Insurance takes Vietnamese bull by the horns with 75% stake in Saigon-Hanoi insurance

June 19 2023

DBI strengthens its Vietnamese presence further, following its acquisition of a 75% stake in Aviation Insurance in February.

hyundai-marine-fire-insurance-maintains-am-bests-financial-strength-and-credit-ratings-despite-capital-pressure-caused-by-rising-interest-rates

Hyundai Marine & Fire maintains financial strength and credit ratings despite capital pressure caused by rising interest rates

June 12 2023

AM Best has assessed that the South Korean insurer's robust capitalisation plus the implementation of IFRS 17 should allay worries about valuation losses in its securities.

Fifth time's a charm?: Korea Development Bank once again attempts to sell KDB Life Insurance

May 31 2023

Samil PWC is understood to have received letters of intent from at least two PE firms for a deal expected to be below 200 billion won.

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