Korean Re has announced that it will launch co-reinsurance business with the Carlyle Group, becoming the first such providers in a market estimated to grow up to KRW100tn ($84bn) over the next few years.
Lina Life Insurance, an affiliate of US headquartered Cigna, denied last Friday market reports that that it was up for sale.
Artificial intelligence-based car insurance services are scheduled to be introduced next year so that post-accident handling can be expedited.
Three non-life insurers have teamed up with Internet company Naver to compete with industry leader Samsung Fire & Marine Insurance in online marketing.
South Korea's labour minister has announced that the country will put all working citizens under employment insurance coverage by 2025 as part of its policy to prepare the nation for the post-pandemic era.
The medical community and pharmacist groups in South Korea have protested against herbal medical treatments from receiving national health insurance coverage.
Financial Supervisory Service (FSS) is looking at insurers for hiking insurance premiums, fees as well as other issues.
All markets in advanced Asia reported non-life premium growth increases in 2019, according to Swiss Re Institute.
Speculation is circulating in the insurance market about whether private equity firm JC Partners is seeking to transform KDB Life Insurance into a reinsurer and compete against Korea Re.
Over three quarters (76.6%) of respondents in a recent survey say they would use healthcare value-added services provided by insurers such as health counselling, discounted genetic testing for cancer and pharmacogenomics testing.