Yonhap Infomax NewsSouth Korea’s non-life insurers, long plagued by annual reinsurance losses exceeding 1 trillion won, posted a surprise profit of 46.5 billion won ($34 million) in Q1 2025, driven by one-off claim recoveries and shifting market dynamics, though underlying deficits persist amid a global hard reinsurance market.
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Reinsurance Segment, Once Posting Annual Losses of 1 Trillion Won, Swings to Surprise Profit in Q1—Here’s Why
South Korea’s non-life insurers, long plagued by annual reinsurance losses exceeding 1 trillion won, posted a surprise profit of 46.5 billion won ($34 million) in Q1 2025, driven by one-off claim recoveries and shifting market dynamics, though underlying deficits persist amid a global hard reinsurance market.