Multiple Insurance Companies Requesting K-ICS Grace Period
By Kim Eun-jin | Business Korea | March 14, 2023
A total of 19 insurance companies, more than one-third of the total, asked the Financial Supervisory Service to postpone the implementation of the Korea Insurance Capital Standard (K-ICS). The ratio is over 50 percent when it comes to life insurance companies. The standard is for soundness assessment in which both assets and liabilities are calculated on a present value basis.Read More »Multiple Insurance Companies Requesting K-ICS Grace Period