Country: South Korea Page 17 / 25
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- May 24 2018
Korean life insurers see net profits fall
Dwindling sales of savings-type products and weaker investment returns are reducing income.
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- May 17 2018
Allianz Global Corporate & Specialty targets Korea growth
The new branch earned €40 million in total premiums in 2017, roughly 10% of its overall Asia business.
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- May 16 2018
Fubon Life’s plan to raise stake in Korea unit still holds
It is determined to carry on with its proposal to raise its share in Hyundai Life Insurance to 62%.
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- May 11 2018
Two Anbang-held Korean insurers maybe up for sale
The two companies, Tongyang Life and ABL Life, could be sold in a package deal or separately.
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- May 4 2018
Korea sets up committee for insurance, banking licences
The FSC is also considering lowering capital requirements for financial businesses.
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- May 3 2018
Korean insurers overseas losses decrease
Overseas branches reported a combined net loss of US$23.2m in 2017, compared with $70.3m in 2016.
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- April 23 2018
Korean insurers face weakening financial health
A rise in interest rates and dividend payouts took its toll on available capital in the fourth quarter of last year.
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- April 19 2018
Korean auto insurance slowed in 2017
The latest statistics suggest that stiff competition and lower premiums have affected profitability.
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- March 29 2018
Fubon Life to become Hyundai Life’s largest shareholder
The Taiwanese life insurance company is set to take up the forfeited options of Hyundai Mobis.
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- March 21 2018
Korea Development Bank postpones sale of life unit
The former Kumho Life will not be sold for at least two years or until it becomes more competitive.
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- March 20 2018
AIG names new head of Korea business
Douglas Min joins as president and CEO in Seoul, taking over from Steven Barnett.
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- March 13 2018
NongHyup expands insurance business in China, Vietnam
The Korean group is expanding its insurance business as part of efforts to strengthen its overseas portfolio.
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- March 7 2018
Korean insurers turn to hybrid securities to boost capital
The issuance comes ahead of the introduction of the new global accounting and stricter local capital standards.
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- March 6 2018
Korean insurers ask to postpone new capital standards
The K-Insurance Capital Standards are posing a heavy burden on the country's insurance industry.
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- February 12 2018
Samsung names new CEOs for insurance units
Samsung Life Insurance and Samsung Fire & Marine Insurance have new leaders after the resignation of the previous heads.
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- February 9 2018
Korean insurers post higher profits in 2017
The improvement is driven by hefty gains on investment coupled with a rise in interest rates.
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- January 31 2018
Korea to increase number of online insurers
The regulator's aim is to lower barriers to entry and ramp up competition in the country's financial sector.
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- January 30 2018
Chubb names Edward Ler country head for Korea
He replaces Edward Kopp, who was recently appointed country president for general insurance in Thailand.
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- January 4 2018
Korea doubles number of insurance patents
The increase is credited in part to the implementation of IFRS17, which has helped to drive innovation.
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- January 3 2018
Assets held by Korean insurers top W1,000tn
The total is broken down into W782.1tn in assets controlled by life insurers and over W252tn by non-life firms.
