The Korea life sector is set to announce impressive results for financial year 2012. Mr Kim Gyu-Bok, Chairman of Korea Life Insurance Association (KLIA), shares what the association and sector are doing to manage an expected tougher 2013.
By Benjamin Ang
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2012 was a rough year as general insurers faced increased loss ratios within, whilst taking a hit overseas. Despite facing adversity, Mr Moon Jae-Woo, Chairman & CEO of the General Insurance Association of Korea (GIAK) is confident the industry can weather the storm and forge ahead with its various new initiatives.
By Dawn Sit
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The Korean insurance industry faces a bleak prospect as interest rates remain at low levels and the Korean economy expected to grow only modestly this year. Such a scenario calls for a stepping up of the industry's risk management measures, says Mr N D Chun, Managing Director at Korean Reinsurance Company.
By Manuelita Contreras
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The Korean insurance market, the seventh biggest in the world, had inherent issues of weak consumer protection, which led to decreasing social confidence in the insurance industry.By Mr Jay Ahn, Partner, Kim & Chang
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