KIRI says a widening gap between driver expectations, insurer assessments, and review outcomes is driving higher dispute rates in Korea’s motor insurance market.
Korean insurers face heightened regulatory scrutiny on FX exposure and overseas assets, with the FSS signalling closer monitoring and stress testing as volatility persists.
Profitability is expected to edge higher over the next two years, as Hanwha Life targets a recovery in underwriting margins and leans on steadier earnings from overseas and non-insurance units.
South Korea’s Financial Services Commission (FSC) has conditionally approved Lotte Insurance’s management improvement plan, submitted in late April, following a regulatory management improvement requirement.
The...
