South Korea's financial regulator announced on 4 June that it is looking to establish an insurance fraud prevention system in 2026, leveraging artificial intelligence (AI).
Climatic conditions this year suggest that conditions are conducive to the formation of typhoons in the Northwest Pacific, which are more likely to hit Japan, the Greater China region or South Korea.
DB Insurance has announced the completion of its $1.65bn all-cash purchase of US specialty insurer the Fortegra Group from Tiptree and Warburg Pincus.
Called "KB Just Right 0540 Health Insurance (Non-Participating)", it is a comprehensive health insurance plan designed to cover health risks that occur from childhood through adulthood.
The Financial Services Commission (FSC), South Korea's financial regulator, has conditionally approved Lotte Insurance's management improvement plan. Reports from South Korean media say this was approved at the FSC's regular meeting on 27 May. The move allows the insurer to proceed with a structured turnaround programme over the next 18 months.
Insurance companies in South Korea generated KRW4.48tn ($3bn) in net income for the first quarter of 2026, up by KRW389.6bn or 9.5% from the corresponding quarter a year earlier, according to preliminary data released by the Financial Supervisory Service (FSS).
On 22 May, DB Insurance announced that it is set to finalise its acquisition of U.S.-based specialty insurer Fortegra, with the deal for a 100% stake expected to close on 30 May.
Swiss Re Asia has appointed Mr Daniel Neo as a member of the Board of Directors, effective 1 June 2026.
Korea Trade Insurance Corporation has provided its first mutual growth trade finance support to suppliers of HD Hyundai Heavy Industries, marking the full-scale launch of a financing programme aimed at boosting the export competitiveness of South Korea's shipbuilding industry.
Kyobo Life has launched a new character named 'Kkook' inspired by emperor penguins. The company explained that it found the spirit of mutual aid in insurance reflected in how emperor penguins endure Antarctica's harsh cold by sharing body heat.