South Korea
FM Global receives an insurance license in South Korea
The firm is also a licensed reinsurer in the country.
FM Global receives an insurance license in South Korea
The firm is also a licensed reinsurer in the country.
Electric vehicles to drive motor insurance growth in South Korea
The number of insured EVs tripled from 2018 to 2021.
AXA denies rumours of exit in South Korea
The firm is the only foreign insurer in the auto insurance market of South Korea.Â
South Korea reinsurance industry to reach $11.9b in 2026
Climate change and regulatory developments continue to be their drivers.
Korea P&I Club underwriting profits to remain vulnerable: AM Best
This is despite mitigative actions done by the insurer.
South Korean non-life insurers to suffer heavy loss August floods: Fitch
However, reinsurance safeguards will shield most insurers from major losses, AM Best said
Worst Seoul flooding triggers more than $50m in motor claims
4,791 car owners have filed for insurance claims due to damages by the flood.
Korea Exchange rejects Kyobo Life IPO application
The reason for the denial is discord amongst major shareholders.
Chubb names new LINA Korea country president
The firm recently acquired Cigna’s life insurance operations in the country.
Kyobo Life to issue $500m hybrid bonds
The 30-year bonds will all be sold to offshore investors.
South Korea insurance industry profits fell by 21% in Q1
Net profits for all 53 major insurers totaled $2.45b.
South Korea’s non-life insurance market breaches $3b in net profits in 2021
Profits were boosted by improved underwriting performance.
Samsung Life net profits plunges by 72.9%
The insurer saw losses grow by $170m compared to last year.
Robots gets insurance cover in South Korea
It can cover almost every accident caused by service robots.
Hanwha Life Insurance Q1 net profits drops by 70.6%
The insurer is considered the second biggest life insurer in South Korea.
FSS to take tougher measures on screening of suspicious insurance cases
The South Korean regulator said this is to reduce fraud in the industry.
South Korean motor insurers turns profit for the first time in four years
The pandemic played a huge role in this for motor insurers.
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Outdated systems cause data breaches, dragging the Philippine insurance market’s growth potential
![Outdated systems cause data breaches, dragging the Philippine insurance market’s growth potential]()
Insurance
Insurance experts warn of poor systems leading to the disruption of digital adoption, whilst partnership opportunities could boost growth.
Insurance experts warn of poor systems leading to the disruption of digital adoption, whilst partnership opportunities could boost growth.
