Following weaker bottom-line results in FY2025, the South Korean insurer posted net income growth of KRW635.2bn (US$426.1m) in the first quarter, supported by higher sales.
The ratings agency has affirmed the South Korean insurer's IFS rating at “A+” and IDR at “A”, with subordinated debt at “A-”, all with a stable outlook.
Rising AI adoption and deepening cloud dependencies are amplifying cyber risks as interest in cyber insurance continues to build, according to Munich Re.
Ziswiler has been with the reinsurer for 16 years and will also take on Country President responsibilities for Singapore, Malaysia, Hong Kong, Korea and India.
The agency said the changes are unlikely to be meaningful enough in most cases to negatively affect insurers’ credit profiles, even if firms adjust investment, hedging and product design.
