News Regulations11 Aug 2023

South Korea:Regulators' approach eases transition to K-ICS

| 11 Aug 2023

The insurance industry witnessed a significant improvement in its Korean-Insurance Capital Standards (K-ICS) ratio after the implementation of transitional measures to comply with the standards. At the end of the first quarter of 2023, the K-ICS ratio increased by 13.1ppt to 219% compared to the RBC ratio three months earlier, says Korean Re in a blog citing data from the Financial Supervisory Service (FSS).

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