South Korea's financial regulators are calling on insurers and banks to play a bigger role in long-term investment as the government seeks to unlock capital for "productive finance" and support strategic sectors including infrastructure and energy transition projects.
Hanwha Life Insurance has launched Hanwha Life Dementia Care Plus Insurance, a new product designed to provide comprehensive coverage for dementia and long-term care needs, while also supporting retirement planning.
One of Kyobo Lifeplanet Life Insurance's most striking features is the absence of an agency force. The insurer, which is South Korea's first online-only life insurance company, has built its identity around this model.
Most property treaty programmes maintained a positive trend in the 1 April renewal period, building on the momentum from 2023 and 2024, according to Gallagher Re in its report titled "First View: Rethinking the Art of the Possible".
To encourage greater participation and increase detection, Korea's national postal service, Korea Post, plans to remove the cap on rewards paid for reporting insurance fraud in the country.
ABL Life has launched a company-wide initiative to reinforce its commitment to financial consumer protection.
Hanwha General Insurance announced that it achieved its highest-ever auto insurance revenue within six months of merging with Carrot Insurance.
The South Korean insurance industry will fund the review committee that will consider the appropriateness of allowing vehicle accident victims with minor injuries to claim the costs of medical treatment that lasts for eight weeks or longer.
Insurers in South Korea are expanding their range of children's insurance products as they look to rope in customers for the long-term.
DB Insurance announced that it had obtained regulatory approval to establish a subsidiary as part of its acquisition of US-based specialty insurer Potegra.