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South Korea: Insurance investment rules now more liberal

Source: Asia Insurance Review | Feb 2017

The Financial Services Commission (FSC) has eased restrictions on investments by the insurance industry, allowing insurers to invest in a wider range of foreign assets.
   The new investment rules, which took effect on 29 December last year, allow insurance companies to invest in assets evaluated as suitable for investment by any agency designated by the regulatory authorities of a relevant foreign nation, reported Yonhap News Agency.
   Currently, Korean insurers can invest only in foreign securities with credit ratings issued by major global agencies such as Standard & Poor’s. 
   The FSC also lowered the limit on insurance companies’ trade in financial derivative products.
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