South Korea’s five leading non-life insurers saw their auto insurance loss ratio surge to 88.5% in January, up 6.7 percentage points year-on-year, prompting premium hikes amid rising claims and costs.
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Auto Insurance Loss Ratio Rises to 88.5% in January—Up 6.7 Percentage Points Year-on-Year
South Korea’s five leading non-life insurers saw their auto insurance loss ratio surge to 88.5% in January, up 6.7 percentage points year-on-year, prompting premium hikes amid rising claims and costs.
