By Yoon Young-sil | Business Korea | June 28, 2019
The Financial Services Commission announced on June 27 that the Korean Insurance Capital Standard (K-ICS) as a new capital adequacy regulation will be introduced in 2022 as previously scheduled yet a grace period of 10 to 20 years will be given at the same time.Read More »K-ICS to be Implemented in Stages
By Park Hyong-ki | The Korea Times | May 21, 2019
JKL Partners, a local manager of private equity funds, may need to raise more capital from its investors for the acquisition of Lotte Insurance, according to industry sources.Read More »JKL may need more capital for Lotte Insurance
Moody’s Analytics Trevor Howes explores how insurers are studying the new IFRS 17 – Insurance Contracts and how successful implementation will depend on the cloud
May 16, 2019 | The Record
The International Financial Reporting Standard (IFRS) 17, which was published in May 2017 after more than a decade of discussion and debate, will dramatically change the financial reporting processes of insurers. Yet many insurers are still wrestling with the challenges of its implementation.
The International Accounting Standards Board (IASB) is reluctant to make revisions to IFRS 17 amid fears that changes could disrupt existing implementation processes.
By Chris Seekings, The Actuary | October 26, 2018
At a meeting earlier this week, the board agreed that potential changes would be “narrow in scope”, with a number of members arguing against compromising core principles of the standard.
By Andrew Tjaardstra, Insurance Asia News | October 23, 2018
FWD Group has agreed to acquire Commonwealth Bank of Australia’s 80% stake in Indonesian life insurer PT Commonwealth Life for around A$426 million (US$300 million).
By Reuters | October 23, 2018
FWD Group, led by Hong Kong billionaire Richard Li, will buy control of an Indonesian life insurance venture from Commonwealth Bank of Australia for A$426 million (US$300 million) as it seeks to expand across Asia.
Read More »FWD pursues pan-Asia ambitions with deal for CBA’s Indonesia insurance unit
By Jhoo Dong-chan, The Korea Times | October 22, 2018
MetLife Korea, a local unit of the largest life insurer in the U.S., is gaining attention for high return of its whole life insurance product investing in the U.S. treasury bonds or promising firms there.
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its 
analysis of IFRS 17 Insurance Contracts.
EIOPA carried out the analysis in light of the upcoming implementation of IFRS 17 to foster a better understanding of the implications and potential impacts of the standard on European insurance and reinsurance undertakings as well as to provide insights into the future interplay between insurers’ financial and prudential reporting.
Read More »EIOPA analyses the benefits of IFRS 17 Insurance Contracts
Nine insurance organisations have written to the International Accounting Standards Board (IASB) calling for a two-year delay to the introduction of IFRS 17.
By Chris Seekings | The Actuary
In a letter addressed to the IASB’s chairman Hans Hoogervorst, the group warned of “serious operational constraints” on insurers’ ability to meet the 1 January 2021 implementation date.
By InsuranceAsia News Staff, InsuranceAsia News | October 18, 2018
Nine national and regional insurance bodies have called for a two-year delay from the original date of 1 January 2021 before the imposition of costly accounting rules, known as IFRS 17.