South Korea
South Korea life insurance industry to reach $117b in 2026
Its growth will be driven by product innovations by insurers.
South Korea life insurance industry to reach $117b in 2026
Its growth will be driven by product innovations by insurers.
Kakao gets regulator nod for digital insurance business
This marks the first time a newcomer has been allowed to launch.
South Korean insurers 2021 preliminary income balloons to $6.8b
This is a 36.2% growth compared to the previous year.
KB Financial Group to merge life insurance subsidiaries
The insurers merging are KB Life Insurance and Prudential Life Insurance of Korea.
FSC slaps KR₩155m fine to Samsung Life over unpaid insurance claims
FSC found the insurance firm in violation of the Insurance Business Act.
South Korea premiums to swell to $229.5b by 2025
Life segment to revive in 2022, driven by increased awareness.
South Korea’s KDIC sells stake at Woori Financial for $765m
The 67.9 million shares were sold to five investors, including Eugene PE.
South Korea’s Kyobo Life requests punishment for Deloitte Anjin accountants: report
They are accused of colluding to inflate the price of six million shares.
Kyobo Life to go public by H1 2022
The insurer also plans to become a financial group.
UK-based reinsurance broker acquires VIB
VIB will also rebrand into BMS Korea under the BMS Asia Team.
Motor insurance leads S.Korea’s general insurance industry in 2020
The motor insurance segment grew by 11.7% in 2020.
Kakaopay suspends car insurance comparison services: report
The company was said to be operating an unauthorized brokerage service.
Korean Re ranks 10th highest in 2020 premium income
The S.Korea reinsurarer’s premiums stood at $7.78b last year.
How South Korea insurers ended a 4-year low of direct written premiums
Insurers registered a 4.1% growth in 2020 for the first time since 2016.
Stable underwriting, investment support DBI Insurance medium-term performance
DBI’s risk-adjusted capitalisation is backed by solid growth of its capital, which reached $5b as of end-2020.
South Korean insurers chided for restrictive COVID-19 vaccine policies
Customers have been giving personal data in exchange for these policies.
South Korean life insurers' interest payment burden rising: report
Their financial performance is diverse but has decayed amidst the prolonged low interest rates.
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Outdated systems cause data breaches, dragging the Philippine insurance market’s growth potential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.
