The Korea Times | July 12, 2024<\/p>\n
The capital adequacy ratio of Korean insurance companies deteriorated in the first quarter of the year, data showed Friday.<\/p>\n
The average capital adequacy ratio of insurance firms stood at 223.6 percent as of end-March, down 8.6 percentage points from three months earlier, according to the data from the Financial Supervisory Service.<\/p>\n
The ratio refers to the amount of available capital compared with required funds under the Korean Insurance Capital Standard (K-ICS).<\/p>\n
The decline follows an 8.1 percentage-point increase in the fourth quarter of 2023.<\/p>\n
The financial regulator attributed the drop in the ratio to a sharp rise in required capital, while available capital grew slightly.<\/p>\n
“Available capital under K-ICS came in at 262.2 trillion won ($190.9 billion) as of end-March 2024, up 0.6 trillion won from three months ago,” it said in a press release.<\/p>\n
Required capital, on the other hand, increased by 4.6 trillion won to 117.2 trillion won amid growing market risks, “such as stock price volatility,” it added.<\/p>\n
The capital adequacy ratio for life insurers came to 222.8 percent as of end-March, down 10 percentage points from three months earlier, while the ratio for nonlife insurance firms also dipped 6.7 percentage points to 224.7 percent over the cited period.<\/p>\n","protected":false},"excerpt":{"rendered":"
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