Hanwha Life Insurance has expanded its financial services portfolio by acquiring Acuon Capital for KRW440bn ($325.4m).
AIA Life Korea has nominated Mr Leo Ng, presently CFO of AIA China, as its next CEO.
The Korea Life Insurance Association (KLIA) is increasingly adopting AI into its operational areas, including consumer complaint handling and advertising reviews for member insurers.
CreditSights has maintained its Market Perform recommendation on Kyobo Life's June 2027 bond, citing its view that the bond is trading at a fair level relative to comparable Hanwha Life Insurance debt. With less than a year remaining until the call date, CreditSights expects the bond to be refinanced in the second quarter of 2027.
Prudential plc has announced the appointment of Mr Naveed Irshad as Regional CEO for Indonesia and the Philippines, effective 26 October 2026. He will also take enterprise-wide responsibility for the health and product businesses and will join Prudential's Group Executive Committee.
South Korean life insurers have suspended new sales of the '7-year whole life insurance' products that offer returns of 100% of premiums paid upon surrender after seven years after the insurance regulator flagged concerns in the product.
The South Korean general insurers will join hands with the country's National Assembly, the government, the investigative agencies and research institutions to combat insurance fraud.
The South Korean financial regulator, Financial Supervisory Service (FSS) has launched an intensive consumer protection drive targeting the insurance industry, after a surge in life insurance complaints.
Samsung's insurance businesses are reportedly pursuing two major overseas investments that could together be worth as much as $6.6bn, as the South Korean group looks to expand beyond its domestic market. Samsung Fire & Marine Insurance is in talks over an additional stake in London-based specialty (re)insurer Canopius, while Samsung Life Insurance is considering an investment of about 15% in US retirement and asset-management company Principal Financial Group (PFG), according to South Korean financial media.
South Korea's national health insurance system is likely to move into deficit financing by the end of 2026.