The National Police Agency will carry out a nationwide special enforcement campaign targeting insurance fraud and illegal medical institutions for nine months, from 2 February to 31 October. The campaign involves intensified and coordinated investigations.
Korean Reinsurance Company (Korean Re) has formally established its India Branch in Gujarat International Finance Tec-City (GIFT City), India's international financial services hub. The company announced in a press release that it held an opening ceremony on 20 January 2026.
Proposed new core capital ratio requirements in South Korea will enhance the quality of insurers' capital and sector resilience, but insurers could face challenges in optimising capital structures depending on the costs of capital strengthening, Fitch Ratings says.
The Financial Services Commission (FSC) has announced that an update has been made to the standard information consent form in the insurance industry on 2 January 2026 to promote retrocession contracts. This update will help insurers spread risk and enhance stability in claims payouts for policyholders.
Called "Shinhan Tontine Annuity Insurance," the insurance offers higher pension payouts the longer the policyholder lives.
Insurance companies are facing pressure as major corporate general agencies (GAs) push for new incentives for third-year contract retention.
Korean insurers are expected to recalibrate their capital strategies to focus on accumulating sustainable core capital in the wake of an announcement by the Financial Services Commission and Financial Supervisory Service about new capital ratio requirements that are to be implemented on 1 January 2027. Otherwise, the insurers may face binding constraints and regulatory intervention.
Korea's Financial Services Commission and Financial Supervisory Service have announced that, starting 1 January 2027, the core capital K-ICS ratio will be mandatory for all insurers under the Korea Insurance Capital Standards (K-ICS).
South Koreans in their 40s and 50s are growing anxious about their retirement and old-age preparedness. More than 60% of the Koreans participating in a study on retirement planning and allied topics revealed that they are not prepared for old age, despite broad awareness of the need for retirement planning.
Major non-life insurers in South Korea have confirmed that auto insurance premiums will rise by 1.3%-1.4% this year, marking the first increase in five years since 2021.