South Korea Archives - InsuranceAsia News https://insuranceasianews.com/country/south-korea/ Fri, 02 Jan 2026 05:36:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Korean broker Wise restructures reinsurance team https://insuranceasianews.com/korean-broker-wise-restructures-reinsurance-team/ Fri, 02 Jan 2026 04:05:41 +0000 https://insuranceasianews.com/?p=207848 Head of reinsurance and speciality Won Lee will head the overall team, supported by Yubeom Kim and Jae Bok Cheong.

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South Korean broker Wise Insurance Services has restructured its reinsurance team to support its "next phase of sustainable growth", according to an announcement made by Won Lee, head of reinsurance a...

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]]> Hanwha General Insurance secures controlling stake in Indonesia’s Lippo General Insurance https://insuranceasianews.com/hanwha-general-insurance-secures-controlling-stake-in-indonesias-lippo-general-insurance/ Fri, 02 Jan 2026 02:00:25 +0000 https://insuranceasianews.com/?p=207873 Korean insurer has increased its shareholding to 61.5% after acquiring a 46.6% stake previously held by Hanwha Life Insurance Indonesia.

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Hanwha General Insurance has increased its total shareholding in Indonesian insurer Lippo General Insurance to 61.5% after acquiring a 46.6% stake previously held by Hanwha Life Insurance Indonesia.
T...

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]]> SK Telecom facing US$1.5bn compensation payout following cyber breach: reports https://insuranceasianews.com/sk-telecom-facing-us1-5bn-compensation-payout-following-cyber-breach-reports/ Mon, 22 Dec 2025 04:46:36 +0000 https://insuranceasianews.com/?p=207530 South Korea's largest mobile network operator suffered the data breach in April, which impacted its 23 million users.

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South Korea's largest mobile network operator, SK Telecom, is facing a potential compensation payout of KRW2.3 trillion (US$1.5 billion) after being ordered by regulators to compensate all of its cust...

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]]> Discount rate cut lowers capital pressures on South Korean non-life insurers: AM Best https://insuranceasianews.com/discount-rate-cut-lowers-capital-pressures-on-south-korean-non-life-insurers-am-best/ Wed, 17 Dec 2025 05:04:30 +0000 https://insuranceasianews.com/?p=207144 Rating agency expects strengthening of supervision on asset-liability management will enhance the industry’s stability and resilience.

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South Korea's plan to slow down the implementation pace of the discount rate cuts is expected to ease domestic non-life insurers’ burden on securing their regulatory solvency positions, said AM Best.
...

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]]> Korean Re to benefit from strongest-level capitalisation, dominant home-market position: AM Best https://insuranceasianews.com/korean-re-to-benefit-from-strongest-level-capitalisation-dominant-home-market-position-am-best/ Mon, 15 Dec 2025 04:02:59 +0000 https://insuranceasianews.com/?p=206903 AM Best affirms its A (Excellent) rating with a stable outlook, citing robust balance sheet strength, strongest‑level capitalisation and solid market leadership.

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Korean Re is maintaining its strongest-level risk-adjusted capitalisation while tightening its underwriting portfolio and reducing exposure to overseas catastrophe risks, according to AM Best.
The...

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]]> Not resting on their laurels, people-powered Miller eyes seat at South Korea’s top table https://insuranceasianews.com/not-resting-on-their-laurels-people-powered-miller-eyes-seat-at-south-koreas-top-table/ Mon, 08 Dec 2025 23:30:08 +0000 https://insuranceasianews.com/?p=206335 Having begun operations at the start of the year, the specialist (re)insurance broker plans expansion through organic and inorganic growth as it seeks to be among the top three brokers within the next five years, country head David Kim says.

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Around a year after setting up shop in South Korea, specialist (re)insurance broker Miller Insurance is aiming to be among the top three brokers within five years, as it embarks on a policy of attract...

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]]> Meritz Fire & Marine faces US$680,000 exposure to Coupang data breach https://insuranceasianews.com/meritz-fire-marine-faces-us682m-expsoure-to-coupang-data-breach-reports/ Mon, 08 Dec 2025 10:08:30 +0000 https://insuranceasianews.com/?p=206350 US-listed Korean retailer is facing class action suits in the US and South Korea following a data leak that compromised information of 34 million customers.

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This story and headline have been corrected after the initial story stated that the exposure was US$682 million.
Meritz Fire & Marine is facing a KRW1 billion (US$680,000) exposure linked to the d...

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The post Meritz Fire & Marine faces US$680,000 exposure to Coupang data breach appeared first on InsuranceAsia News.

]]> Tiptree shareholders approve US$1.65bn Fortegra sale to South Korea’s DB Insurance https://insuranceasianews.com/tiptree-shareholders-approve-us1-65bn-fortegra-sale-to-south-koreas-db-insurance/ Thu, 04 Dec 2025 07:15:38 +0000 https://insuranceasianews.com/?p=206092 All-cash deal was approved at a special meeting on Wednesday. 

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Tiptree shareholders have approved the sale of US specialty insurer Fortegra to South Korea's DB Insurance, according to a press release.
The all-cash deal, reported to be around US$1.65 billion, was ...

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The post Tiptree shareholders approve US$1.65bn Fortegra sale to South Korea’s DB Insurance appeared first on InsuranceAsia News.

]]> APAC non-life insurers to remain stable in 2026 as capital strength offsets regulatory, catastrophe pressures: Fitch https://insuranceasianews.com/apac-non-life-insurers-to-remain-stable-in-2026-as-capital-strength-offsets-regulatory-catastrophe-pressures-fitch/ Thu, 04 Dec 2025 06:22:06 +0000 https://insuranceasianews.com/?p=206072 Stable margins and strong solvency expected, Fitch says, with disciplined pricing and steady reinsurance support underpinning a neutral outlook.

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Non-life insurers in Asia Pacific are expected to maintain a resilient performance in 2026, supported by stable operating margins and strong solvency buffers, although evolving capital reg...

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]]> South Korea’s financial watchdog slams ‘extremely low’ cybersecurity investment after Coupang breach https://insuranceasianews.com/south-koreas-financial-watchdog-slams-extremely-low-cybersecurity-investment-after-coupang-breach/ Mon, 01 Dec 2025 10:05:25 +0000 https://insuranceasianews.com/?p=205796 Online retailer apologises for a massive data breach, potentially involving nearly 34 million local customer accounts.

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Levels of investment in cybersecurity by South Korean firms is far below that of other major countries, the head of the country's financial watchdog said on Monday.
Financial Supervisory Service (FSS)...

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