Premiums will be shared with participating manufacturers and importers, with cover applied automatically to eligible EVs and claims handled on a “pay first, settle later” basis.
The insurer, which reported a solvency ratio of 142% as of September 2025, now has two months to submit a revised plan covering asset disposals, cost reductions, and capital increases.
South Korea’s financial authorities have pledged coordinated action, data exchange, and support measures in response to heightened geopolitical tensions in the Middle East.
Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.
Three South Korean insurers have held early stage discussions with Indian players, advisers, and the regulator, as they look to enter the US$130bn market.
