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South Korea tag returned 293 results

  • South Korea: Regulator improves insurance operations

    South Korea's chief financial regulator has announced a number of new policy measures and reforms, including a measure to prevent parents who are estranged from their children from receiving insurance benefits on their children's death.

    Asia | 27 Mar 2020
  • Korea most exposed to a Chinese slowdown, with impact on insurance

    While Chinese production lines are almost back to full capacity after the lockdown in January and February to tame the spread of the coronavirus, exporters in China are now facing up to reality. Global demand has dropped drastically as many of the world's economies see massive disruptions in an effort to control the worldwide pandemic.

    AIRPlus | 24 Mar 2020
  • Asia: Life insurers could "shelter-In-place" their investments

    Life insurers and regulators have to think creatively of ways long-term money can ride out a crisis that by its nature will be relatively short-term, says Mr Brad W Setser, a senior fellow for international economics at the think tank Council on Foreign Relations.

    Asia | 24 Mar 2020
  • McLarens appoints Stephen Toomer to head South Korea

    McLarens, a global loss adjuster specializing in complex, commercial and niche markets, today announced the hiring of Stephen Toomer as managing director of McLarens Korea. Mr Toomer is an established international executive loss adjuster.

    People | 20 Mar 2020
  • South Korea: IFRS17 1-year postponement may still be insufficient for small life insurers

    The decision of the International Accounting Standards Board (IASB) to defer the implementation of IFRS 17 on Insurance Contracts by a year to 2023 provides local insurers more time to ensure compliance amid lowered interest rates.

    Asia | 19 Mar 2020
  • South Korea: Tong Yang Life focuses on selling profitable protection-type policies

    Tong Yang Life's (TYL), South Korea's sixth largest life insurer\, with a market share of around 5% by premium income at end-September 2019, continues to optimise its product mix by focusing on the sale of more profitable protection-type policies and has multiple distribution channels, notes Fitch Ratings.

    Asia | 18 Mar 2020
  • South Korea: Insurance industry's net profit drops to lowest in 10 years

    South Korean insurance firms' combined net profit fell to the lowest level in a decade last year due in part to increased auto insurance losses, according to preliminary data from the Financial Supervisory Service (FSS).

    Asia | 18 Mar 2020
  • South Korea: Prudential Life's local unit may see 3 suitors

    Woori Financial Group is reportedly highly likely to support IMM Private Equity by offering acquisition financing for the takeover of Prudential Life Insurance Company of Korea.

    Asia | 17 Mar 2020
  • Higher investment returns push Korean insurers overseas

    A recent report by Fitch ratings reveals that Korean insurers in their search for higher investment returns and longer asset duration are increasingly investing overseas, although hedging costs could remain a dampener.

    AIRPlus | 17 Mar 2020
  • South Korea: COVID-19 likely to constrain financial performance of insurers

    The recent rapid spread of coronavirus in South Korea could raise the risk of the investment assets of South Korean insurers according to credits ratings agency Fitch. This would be due to higher financial market volatility as well as expected interest-rate cuts by many central banks including South Korea's to minimise the impact of the pandemic on the global economy.

    Asia | 16 Mar 2020


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