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News
IFRS 17 shifts Korea life insurers from savings to protection as sales cool
6+ mon, 2+ week ago (416+ words) CHOSUNBIZ Chosunbiz IFRS...17 shifts Korea life insurers from savings to protection as sales cool Insurers pivot to health coverage...the 25th, the number of new whole life policy contracts at 22 life insurance companies operating in Korea...
South Korea warns of improper whole life insurance sales pitched as investments
4+ mon, 4+ week ago (13+ words) CHOSUNBIZ Chosunbiz...
Kyobo Life Planet Life Insurance, the only digital life insurance company in Korea, signed a strateg.
8+ mon, 1+ week ago (228+ words) Kyobo Life Planet Life Insurance, the only digital life insurance company in Korea, signed a strategic...seamless financial experience by establishing a partnership with Kyobo Life Planet, a leader in the Korean...
Samsung Life Insurance stokes self-contract incentives, raising arbitrage risk in Korea
5+ mon, 3+ week ago (327+ words) A branch head at a large GA also said, "There are times when an insurer, to boost sales of a flagship...
South Korean deposit insurer picks 3 bidders for Yebyeol Non-Life
7+ mon, 2+ week ago (193+ words) To continue reading the full article and get full access to the InsuranceAsia News platform, please enquire about a subscription. Your company may already have a corporate license in place. Take a Free Trial Final bids for the bridge insurer…...
Modern Life Raises $20M to Cut Life Insurance Policy Cycle Times from Six Months to Minutes
9+ mon, 3+ week ago (383+ words) AlleyWatch sat down with Modern Life Founder and CEO Michael Konialian to learn more about the business, the future plans, recent funding round, and much, much more… We raised a $20M Series A led by Thrive Capital, with participation from New…...
Will KDB Life Sale Spark Insurance M&A Revival?
3+ mon, 1+ week ago (800+ words) According to the insurance industry on June 2, Korea Investment Holdings, Taekwang Group, and Samsung...While the market initially identified Korea Investment Holdings and Taekwang Group as the most likely...extended to cover General Agencies (GAs) starting in July, capping insurance…...
Insurance Research Institute: "Future Profitability of Life Insurers Uncertain... Excessive Expansion of Protection-Type Insurance Should Be Avoided"
5+ mon, 3+ week ago (667+ words) On March 22, Noh Geon-yeop, a research fellow at the Korea Insurance Research Institute, emphasized in...In the product portfolio, general protection-type insurance shows a CSM multiple of 13.7 to 22.4 times..., while annuity and savings insurance are only at 0.3 to 2.0 times....
Insurers' Surrender Value Reserves Surge 40% on Protection Product Sales Growth
5+ mon, 2+ week ago (210+ words) Insurance Industry Net Profit Also Down 14.5% Last Year Surrender value reserves accumulated by major Korean...insurers newly set aside 10.6719 trillion won in surrender value reserves over the past year, 2.2 times...
Insurers expand children's coverage as policy support fuels race for long-term customers
5+ mon, 1+ week ago (453+ words) Korea saw 255,000 births last year, up 16,000 from a year earlier — the largest increase since 2010,...