The results of Hyundai Marine & Fire Insurance Co's (HMF) long-term insurance lines are expected to improve from premium rate increases and the company's efforts to improve the medical indemnity loss ratio trend, while both auto and general lines remain relatively stable, said AM Best.
Korean insurers are expected to adopt a more proactive approach to managing asset allocation, although their current investment mixes are unlikely to change markedly, says Fitch Ratings.
In 2018, typhoons Jebi and Cimarron "toppled over several turbines in Japan", according to an article published by Swiss Re, Climate Change and Wind Power: The Winds of Change.
The Financial Services Commission (FSC) has announced that the Act on the Protection of Virtual Asset Users, aimed at establishing sound order in the virtual asset market and ensuring protection for users, would take effect from today (19 July).
The financial authorities in South Korea are working on policy frameworks for future finance, based on systematic analyses intended to minimise risks and seek opportunities for growth over the medium to long term, according to the Financial Services Commission (FSC) vice chairman Kim Soyoung.
Reinsurance Group of America (RGA), a leading global life and health reinsurer, today announced it has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a KRW200bn ($144.35m) in-force block of life policies through coinsurance.
AIA Korea has announced that the Seoul-based life insurer would come up with a new series of video clips about its marketing campaign of inviting influencers and agents to the Premier League.
Korean insurers are expected to sustain their profitability through continued growth in new contractual service margin (CSM), says Fitch Ratings.
South Korea's Kyobo Life Insurance, one of the three biggest life insurers in the country, has announced that its 'A1' (Stable) insurance financial strength rating has been affirmed again by Moody's Ratings, one of the world's top three credit rating agencies.
Insurance companies in South Korea reported investments totalling KRW31.3tn ($22.7bn) in real estate overseas at the end of December 2023, holding the largest share of 54.4% among all categories of financial institutions in the country, according to data released by the Financial Supervisory Service (FSS).