Yonhap Infomax NewsSouth Korean life insurers are accelerating sales of 'third insurance' products such as health and accident coverage to boost Contractual Service Margin (CSM), with initial premiums nearly doubling year-on-year amid regulatory changes under IFRS 17.
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Life Insurers Focus on CSM Growth as Sales of 'Third Insurance' Products Surge in South Korea
South Korean life insurers are accelerating sales of 'third insurance' products such as health and accident coverage to boost Contractual Service Margin (CSM), with initial premiums nearly doubling year-on-year amid regulatory changes under IFRS 17.