AIA Life Insurance Korea has secured a nine-month exclusive usage right from the Life Insurance Association of Korea for its new rider designed to cover cancer treatments based on advanced medical technologies.
South Korean insurers will invest a total of KRW8tn ($5.6bn) in the National Growth Fund over the next five years. The industry will also provide KRW40tn to productive finance initiatives, an increase of KRW3.2tn from the commitment made earlier in January.
The Financial Services Commission (FSC) will establish a joint taskforce to monitor the ongoing armed conflict in the Middle East. This initiative aims to facilitate real-time information sharing among relevant authorities and maintain a 24-hour watch on evolving market conditions.
Global trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was made before 28 February when the US-Israel vs Iran military conflict began.
Last year, major domestic non-life insurers saw their net profits drop by double digits, driven by a KRW400bn ($278m) deficit in auto insurance.
The Financial Supervisory Service FSS), South Korea's fully integrated supervisory authority, seeks to focus on innovation, trust, stability, shared growth and future as its annual strategic priorities for 2026 and sets corresponding tasks as well to prioritise financial consumers and stabilise the financial market at the same time.
The country's five major non-life insurers plan to launch a free indemnity and windstorm and flood insurance cover for small shop owners.
South Korean financial authorities have cracked down on corporate insurance general agencies (GAs) engaged in illegal practices of paying insurance premiums on behalf of policyholders.
Markel Insurance has appointed Mr John Bang as its inaugural Head of Korea and Japan.
The number of new employment insurance subscribers showed signs of recovery in January 2026, returning to the 200,000-mark for the first time in 15 months.