By Kassandra Jimenez-Sanchez | Reinsurance News | February 27, 2024
Capital management of South Korea insurers are expected to continue to feel pressured due to the implementation of new standards, such as Korean-Insurance Capital Standards (K-ICS) and IFRS 17, according to a recent report by AM Best.Read More »South Korea insurers to continue to feel pressure due to new standards: AM Best
By Insurance Asia | February 22, 2024
The adoption of K-ICS drove operational strategies of Korean insurers to focus on expanding sales of protection-type products with high profitability.Read More »IFRS 17, K-ICS weakens average solvency ratio
Sale of Lotte Insurance to test market sentiment
By Anna J. Park | The Korea Times | February 16, 2024
Market attention is now on whether the insurance M&A market could be able to reverse its frozen atmosphere in this year. While some market watchers expect M&A activities in the insurance sector to be revitalized as uncertainties are resolved over the application of the new IFRS 17 global accounting standards, concerns still linger regarding the long-term forecast for the domestic insurance industry, according to industry officials, Friday.Read More »Will M&A market for insurance companies revive this year?