Browsing: South Korea

South Korea’s travel insurance premiums hit a record high in 2024, driven by increased overseas travel, with major non-life insurers seeing significant growth.

South Korea’s Financial Supervisory Service has instructed non-life insurance companies to revise caregiver health insurance coverage due to consumer complaints and disputes.

South Korean non-life insurers are engaging in aggressive price competition and offering differentiated services to capture the rapidly growing travel insurance market driven by the surge in overseas travelers.

The Financial Services Commission is working to find the best solution for MG Non-Life Insurance Co., which faces potential liquidation.

The Life Insurance Association and the Non-life Insurance Association jointly donated 100 million won to the Korean Red Cross to aid areas affected by recent forest fires.

The Financial Services Commission (FSC) has given the green light for Samsung Life Insurance to integrate Samsung Fire & Marine Insurance as a subsidiary.

South Korean insurance companies are set to expand their business ventures into healthcare, medical care, and services for companion animals.

The Financial Services Commission (FSC) is allowing insurance companies to diversify their business offerings to respond to demographic shifts, climate change, and technological advancements.

Several South Korean insurance companies are issuing capital-backed securities this week, despite potential future changes in capital requirements from financial authorities.

Fitch Ratings maintains a stable outlook for Kyobo Life Insurance, citing improved profitability and capital strengthening efforts.