March 13, 2025

By In-Soo Nam | The Korea Economic Daily | March 13, 2025

Now that the fifth sales attempt has gone awry, the state-run KDIC is looking to drastic steps such as liquidation of MG

Meritz Financial Group Inc., South Korea’s second-most valuable financial holding firm, has dropped its bid to acquire financial distressed MG Non-Life Insurance Co. after failing to reach an agreement with unionized MG workers on job security.Read More »Meritz drops bid for troubled MG Non-Life Insurance; Liquidation looms

By Park Na-eun and Minu Kim | Maeil Business News Korea | March 13, 2025

South Korea’s financial authorities are set to revise the key capital regulation for insurers, lowering the recommended solvency ratio (K-ICS) by 10 to 20 percentage points from the current 150 percent for the first time in 24 years.Read More »Korea to lower insurance solvency ratio for first time in 24 years

By Kim Eun-jin | Business Korea | March 13, 2025

Introduction of New ‘Core Capital K-ICS’

Financial regulators are tightening solvency requirements for insurance companies by lowering the Korea Insurance Capital Standard (K-ICS) ratio while introducing a new Core Capital K-ICS ratio. Since core capital refers to paid-in capital and retained earnings, the new regulation is expected to make it more difficult for insurers to meet solvency requirements by issuing subordinated bonds.Read More »Stronger Capital Regulations to Make Subordinated Bond Issuance More Challenging for Insurers

By Yonhap | March 13, 2025

Financially feeble MG Non-Life Insurance is facing a looming liquidation as a potential buyer announced the termination of a takeover deal Thursday.Read More »MG Non-Life Insurance faces looming liquidation as deal falters