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South Korea tag returned 217 results

  • South Korea: Major insurer prepares to enter healthcare sector

    Kyobo Life Insurance, among South Korea's top three life insurers, is gearing up to tap opportunities in the healthcare market after the authorities said earlier this month that insurers would be allowed to expand their businesses into the healthcare sector.

    Asia | 22 Jul 2019
  • South Korea: Regulator advises caution in buying non-KRW insurance products

    The Financial Supervisory Service (FSS) has warned consumers of the risks of foreign-currency denominated insurance products, including dollar insurance, which have been sold by foreign insurance companies such as MetLife, AIA and Prudential Life Insurance.

    Asia | 19 Jul 2019
  • South Korea: Insurers continue to issue bonds to raise capital

    South Korean insurers are continuing to issue corporate bonds to raise funds to prepare for higher capital requirements in preparation for the implementation of International Financial Reporting Standard (IFRS) 17.

    Asia | 18 Jul 2019
  • New leader for reinsurer's life and health business in Korea

    Mr Kyungsuk Lee joined Munich Re Korea's leadership team on 15 July as part of a leadership transition following the retirement of current head of life and health Soobum Lee on 30 September this year. The former will be appointed the new head in due course and will report to Munich Re managing director, life and health for South-East Asia, South Asia, Korea and Japan, David Hughes.

    Asia | 15 Jul 2019
  • South Korea: IT giant enters insurance business with acquisition of insurance platform

    Kakao Pay, the FinTech division of IT giant Kakao, has acquired insurance platform start-up, Inbyu's shares and secured its management rights, reported The Korea Times. The acquisition is considered a strategic move for the FinTech to enter the insurance business as Inbyu will act as a general agency for Kakao Pay's insurance services.

    Asia | 12 Jul 2019
  • South Korea: Government to implement new insurance rules for foreign residents

    Foreign residents in South Korea who default on payments for mandatory state health insurance premiums will need to pay for all medical costs on their own, reported Yonhap News Agency citing a statement from the health ministry. Under changes made to the country's National Health Insurance Act, foreigners who have resided in the country for over six months are required to enrol in the state healthcare programme and pay monthly premiums from 16 July.

    Asia | 10 Jul 2019
  • South Korea: Next of kin to be alerted whenever senior citizens buy insurance

    With effect from October, senior citizens will receive twofold protection when they subscribe to insurance or other financial products, as it will become mandatory for service providers to notify a predesignated family member of the would-be elderly purchaser before confirming contracts.

    Asia | 10 Jul 2019
  • Korea: Second largest non-life insurer makes its mark on foreign markets

    DB Insurance is driving its entry into overseas markets by acquiring a number of foreign insurers, reported The Korea Times citing industry sources. The non-life insurer has already marked its presence in the US, Chinese, Guam and Vietnamese markets via a localisation strategy where the two main products it sells are car insurance and home fire insurance.

    Asia | 08 Jul 2019
  • Korea: Government promises improved health insurance system

    Korean president Moon Jae-in stressed that his administration would adhere to its planned state health insurance policy even though it has received criticism over funding, reported Yonhap News Agency.

    Asia | 05 Jul 2019
  • First personal accident insurance for e-scooter riders in Asia Pacific

    As the technology-driven mobility scene continues to develop in the Asia Pacific region, micro-mobility provider Beam has introduced the 'first' multi-market rider protection programme for the regional sharing services sector.

    Asia | 03 Jul 2019

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