South Korea

Woori takeover looms over Tong Yang Life's profile as protection claims volatility rises — Fitch

January 19 2026

The ratings agency said it will revisit the life insurer's credit profile once the effects of its new majority owner become clearer, amid softer earnings but solid capital strength.

south-koreas-top-insurers-set-first-motor-premium-increase-in-five-years-report

South Korea’s non-life insurers to hike motor rates for first time in five years — report

January 16 2026

Financial authorities have accepted low single-digit rate hikes amid rising loss ratios.

cyber-and-ai-top-concerns-but-energy-crises-and-political-instability-emerge-in-apac-business-risk-rankings

Cyber and AI the obvious concerns, but energy crises and political instability climb in APAC: Allianz Risk Barometer

January 14 2026

Survey reveals growing concerns over energy crises in key markets like Australia, the Philippines, and South Korea, while political instability and AI-driven threats have surged as a concern for risk managers...

south-korea-announce-2027-start-date-phase-in-for-insurers-core-capital-k-ics-rule

South Korea sets 2027 rollout, phase-in plan for insurers’ core capital K-ICS rule

January 14 2026

FSC will introduce company-specific benchmarks and stricter redemption rules as part of a phased core capital rollout.

HDI Global opens Seoul office to expand APAC reach

January 12 2026

Ki Hyung Jo has joined as Korea market lead, with HDI to offer local clients access to insurer's existing product range and new specialty solutions, such as cover for K-pop events.

south-koreas-major-non-life-insurers-break-1-trillion-won-in-overseas-premiums-for-2023-report

General Insurance Association of Korea, criminology institute join forces to combat rising insurance fraud

January 9 2026

The collaboration aims to curb social costs, protect policyholders, and strengthen the stability and fairness of Korea’s insurance system.

Kyobo Life ROE rises to 20.4% as Fitch maintains ‘A+’ IFS; risky asset ratio climbs

January 9 2026

The life insurer's risky asset ratio rose to 179.0% by end-September 2025, exceeding Fitch's guideline for the insurer’s rating category.

Reinsurers ramp up APAC life and health push at 1/1 renewals — Aon

January 7 2026

Capital relief, longevity and lapse solutions gain ground as insurers respond to tougher risk-based capital regimes and climbing healthcare costs.

gallagher-re-asia-pacific-cedants-secure-rate-cuts-and-better-terms-as-reinsurance-capacity-surges

Gallagher Re: APAC cedants secure rate cuts, better terms as reinsurance capacity surges

January 5 2026

Reinsurers compete aggressively for APAC business as record capital levels and benign loss experience drive double-digit rate reductions across the region.