DB Insurance has moved closer to making the largest US market entry by a Korean non-life insurer, after shareholders of Tiptree, a US investment management firm, approved the planned merger of specialty insurer Fortegra and a wholly owned DB subsidiary.
The South Korean Financial Supervisory Service (FSS) has decided to stop the deviant accounting practice applicable to domestic life insurers, including the country's biggest life insurer Samsung Life Insurance.
Kyobo Life Planet Life Insurance has confirmed the appointment of its CEO, Mr Kim Young-suk, for a second term. Mr Kim's term was approved at the general shareholder's meeting in November.
Korean Reinsurance Company (Korean Re) has announced that it has received regulatory approval to establish a new branch in Gujarat International Finance Tech-City (GIFT City), India's first operational smart city and International Financial Services Centre (IFSC). The company plans to officially commence operations in April 2026.
Samsung Life Insurance appointed Mr Lee Seung-ho, Vice President and Head of the Financial Competitiveness Enhancement Task Force, as President, according to news platform The Chosun Daily.
All life insurers in South Korea will be able to launch products, enabling life insurance policyholders to have access to death benefits early in their retirement, by 2 January 2026, according to the Financial Services Commission (FSC).
The South Korean government has amended the country's employment insurance to include gig and platform workers and extended the eligibility criteria from weekly hours to monthly pay, reported the Chosun Biz.
Samsung Life Insurance has appointed Lee Seung-ho as its new president.
The South Korean government will begin subsidising malpractice insurance premiums for doctors working in critical but increasingly underserved medical specialties, reported the Korea Bizwire.
The Korean insurance regulator has said that if more people cooperate no more paperwork will be necessary to submit insurance claims after a clinic visit.