By Anna J. Park | The Korea Times | March 28, 2024
Insurers piling up in M&A market
The Korea Development Bank (KDB) is mulling over incorporating KDB Life as a subsidiary instead of pursuing another futile attempt to sell the insurer, industry sources said.Read More »KDB mulls over halting sale of KDB Life
The state-run bank will focus on bolstering KDB Life’s financial health before searching for a new buyer
By Jong-Kwan Park | The Korea Economic Daily| March 27, 2024
The state-run Korea Development Bank (KDB) has suspended the protracted sale process of KDB Life Insurance Co. to take full control of the insurer before putting it back on the market at a higher valuation, according to people with knowledge of the matter on Wednesday.Read More »KDB halts KDB Life sale process to take full control
It will provide training in the fields of underwriting and actuarial science to the VIDI and support the insurance DB
By Mi-Hyun Jo | The Korea Economic Daily | March 22, 2024
The Korea Insurance Development Institute (KIDI) announced on Friday that it signed a business agreement with the Vietnam Insurance Development Institute (VIDI) to support the establishment of insurance infrastructure in Vietnam.Read More »KIDI to build insurance infrastructure in Vietnam
By Asia Insurance Review | March 19, 2024
The Philippine Insurance Commission (IC) has issued a circular, mandating insurance and reinsurance companies to adopt Philippine Financial Reporting Standard 17 (PFRS17) on insurance contracts, which is aligned with IFRS17.Read More »Philippines: Insurance industry to adopt new financial reporting standards wef 1 Jan 2025
Regulator unveils plans regarding new standard
By Roxanne Libatique | Insurance Business Magazine | March 16, 2024
The Insurance Commission (IC) of the Philippines has issued a directive to insurance companies, mandating the adoption of a new accounting standard aimed at enhancing the transparency and international comparability of financial reports.Read More »Philippine insurance industry to adopt new reporting standard for enhanced transparency
By Aaron Michael C. Sy | Business World | March 8, 2024
THE INSURANCE COMMISSION (IC) is requiring covered companies to apply a new set of accounting policies that will make financial reports more transparent and universally comparable starting Jan. 1 next year.Read More »Insurers told to make financial reports more transparent