January 2025

By Yoon Young-sil | Business Korea | January 23, 2025

FSC and FSS Announce Best Practices for Insurance Executives’ Compensation Systems

The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) announced the “Best Practices for Compensation Systems for Insurance Executives” on Jan. 23. The best practices were established during the 6th Insurance Reform Meeting held on Jan. 21. The new policy mandates that starting next year, a significant portion of insurance company executives’ performance bonuses must be paid in stocks.Read More »Insurance Companies Required to Pay Executives’ Performance Bonuses in Stocks

By Choi Ji-won | The Korea Herald | January 16, 2025

South Korean insurers are bracing for losses from the massive wildfire in Los Angeles, with DB Insurance and Korean Re bearing the largest impact, costing them approximately 90 billion won ($61.8 million).Read More »South Korean insurers hit by California wildfires