South Korea

Korean broker WISE launches specialty unit alongside core reinsurance business

January 2 2026

WISE Insurance splits its Reinsurance Team into R&S units led by Won Lee, with Yubeom Kim heading reinsurance and JB Cheong leading specialty.

Hanwha General Insurance takes control of Indonesia’s Lippo General Insurance

January 2 2026

Hanwha General's total ownership of Lippo General has lifted to 61.5%.

Kyobo Life names Shin Jung-ha as head of enterprise-wide AI transformation support unit

December 19 2025

He is the eldest son of Kyobo Life chairman Shin Chang-jae and was promoted to executive director last year.

South Korea's FSS slows discount rate rules to relieve solvency pressures for non-life insurers — AM Best

December 17 2025

The move to slow the cuts is a direct response to market conditions, according to AM Best.

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Rising health and motor claims push South Korean insurers toward premium hikes, benefit reductions in 2026

December 10 2025

Loss ratios at major carriers are approaching 100% after climbing for six consecutive quarters, according to analysis by Daishin Securities.

Coupang data breach exposes Korea's mandatory cyber insurance gap with Meritz policy capped at US$682k

December 9 2025

The breach exposed personal data from 33.7 million accounts, leaving Coupang facing potential compensation claims of trillions of KRW, far exceeding the insurance policy’s limit.

guy-carpenter-wins-singapore-high-court-case-against-ex-staff-lk-re-over-samsung-fire-amp-marine-business

Guy Carpenter wins Singapore High Court case against ex-staff, LK Re over Samsung Fire & Marine business

December 8 2025

Court found two brokers and LK Re liable for conspiring to divert SFIMI account, which resulted in an estimated US$1.3m in lost brokerage revenue.

Evolving combined ratios highlight changing risk patterns in Asia-Pacific non-life insurance

December 5 2025

Gallagher Re report shows mix of underwriting recoveries, loss spikes, and changes in business mix is moving region beyond its motor-led growth model.

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AM Best affirms NongHyup P&C’s ratings as CSM growth slows amid regulatory shifts

December 2 2025

NongHyup P&C’s 2024 combined ratio stood at 95.1%, with underwriting performance steady amid sector and regulatory changes.

Asia Pacific's life insurers set to achieve 7.3% CAGR, reaching US$1.6tn by 2029: GlobalData

November 25 2025

This growth is driven by the emerging silver economy, regulatory reforms, the high-net-worth market, and AI adoption.

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