Country: South Korea Page 6 / 25
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- June 28 2023
Long-term products, auto to drive growth for Korean insurers: AM Best
Stable outlook ahead for Korean non-life insurance business as IFRS 17 is expected to bring in more stability.
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- June 26 2023
Korean construction insurer KSCFC eyeing overseas expansion to reduce risk: Fitch
The rating agency has assigned the cooperative an insurer rating of 'A' (strong) with a stable outlook, a notch above its standalone credit quality.
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- June 21 2023
Korea’s Nonghyup Property and Casualty inks strategic parternship with Vietnam’s PVI Insurance
The two carriers plan to extend reinsurance capabilities and share customer networks and services in South-East Asia.
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- June 20 2023
Seoul Guarantee Insurance files for Korea Exchange listing: report
Samsung Securities and Mirae Asset Securities have been appointed as the lead underwriters for the proposed IPO.
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- June 19 2023
DB Insurance acquires Vietnamese carrier Saigon-Hanoi
The acquisition is the Korean insurer's second deal in Vietnam in 2023, following the Vietnam National Aviation Insurance buy in February.
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- June 13 2023
Seoul Guarantee Insurance to file for IPO this month: report
The state-owned carrier, which is expanding overseas with reinsurance tie-ups with Allianz Trade and Coface, is eyeing a listing later this year as its biggest shareholder plans to exit.
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- June 9 2023
Hyundai Marine to benefit from transition to IFRS 17: AM Best
The carrier was facing 'considerable pressure' on its capital position in FY 2022 due to valuation losses, which can now be reduced.
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- June 6 2023
Despite the buzz, Korean insurance M&A slow to take off
A consolidated market, low valuations and lack of sizeable targets make dealmaking hard in the north Asian country.
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- June 5 2023
Financial lines remain key to BMS Asia growth plans
The broker is focusing on 'building out and strengthening existing offices' in Asia, while seeking to be a 'viable alternative to the large broking houses' in Australia.
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- May 30 2023
Axa Korea in sale talks with Kyobo Life, Kakao Insurance: report
Local media reports suggest the life insurer plans to pick up a 51% stake while the digital carrier will buy the remaining stake in the French insurer's Korean arm.
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- May 22 2023
Starr targetting Korea market entry: report
The carrier will seek to enter the country’s travel and accident insurance markets from 2024 if it gets a licence later this year, a BusinessKorea report said.
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- May 10 2023
Kyobo Life Insurance eyes general insurance re-entry via acquisition: report
The life insurer denied reports that it was in talks to acquire a 51% stake in digital carrier Kakao Pay Insurance.
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- May 2 2023
Berkley bolsters Korean desk with senior marine underwriter from UIB
Hans Hwang joins the team as marine underwriting manager in Singapore.
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- April 26 2023
Gallagher targets South Korea and Taiwan after Japan foray
Following the announcement of a corporate broking and fac operation with 15 people in Tokyo and senior regional hires, IAN understands the broker is close to launching in Korea.
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- April 20 2023
Korean P&C insurers falling short on oil and gas exclusions
While most of the insurers have started acting on coal policies, only Samsung has extended it to the petroleum industries.
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- April 11 2023
Charles Taylor ties up with Korean loss adjuster
CTA works with a network of loss adjusting businesses around the world to offer its clients services where it does not have a regional presence.
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- April 4 2023
Easing capacity constraints offer hope for mid-year renewals: Aon
April renewals progressed in an orderly fashion as the reinsurance market has found itself on a more sustainable footing.
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- April 4 2023
Hannover Re names Firdaus Kasman as Korea team lead
Kuala Lumpur-based Kasman will also continue to head the reinsurer's affinity team with responsibility for Asean, South Asia, Korea and Japan.
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- April 4 2023
Korean risks reeling from large industrial losses see 50% hikes in 1.4 renewals
Protracted negotiations on structures and data analysis requirements due to changes to cessions led to delays.
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- March 20 2023
Korean Re 2022 COR flat at 100.4%, gross premiums grow 16%
The carrier's GWP climbed to US$7.4bn, but its net profit fell 1.5% to US$133.5m.
