Browsing: South Korea

Meritz Fire & Marine Insurance abandons acquisition of MG Insurance due to union resistance, putting 1.24 million policyholders at risk.

Meritz Financial Group terminated its acquisition of the financially struggling MG Non-Life Insurance, raising the prospect of liquidation.

Meritz Financial Group terminates its bid to acquire MG Non-Life Insurance, leading to potential liquidation of the financially struggling insurer.

An employee at KB Insurance has been reported to the police for embezzling 1.4 billion won through unauthorized transfers. The incident, discovered by a colleague, has prompted an internal investigation and a review of the company’s internal financial controls.

South Korean health insurance authorities are exploring ways to alleviate the burden of property insurance premiums on local subscribers, potentially through adjustments to how monthly rent is assessed.