South Korea’s non-life insurers have sharply reduced reinsurance losses in 2024, narrowing the deficit by over 2 trillion won, as major claims and improved risk diversification strategies drive recovery.
#YonhapInfomax #Reinsurance #NonLifeInsurers #NHNongHyup #KoreanRe #LossReduction #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=94495
Non-Life Insurers Sharply Narrow Reinsurance Losses This Year—Here’s How
South Korea’s non-life insurers have sharply reduced reinsurance losses in 2024, narrowing the deficit by over 2 trillion won, as major claims and improved risk diversification strategies drive recovery.
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.
#YonhapInfomax #Reinsurance #SamsungFireAndMarine #KoreanRe #Q1Profit #HardMarket #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=68741
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.
Korean Re reports strong Q1 performance with net profit up 42.6% to 90.6 billion won, surpassing market expectations despite major natural disasters, driven by diversified portfolio and improved underwriting
#YonhapInfomax #KoreanRe #Q1Earnings #NetProfit #Reinsurance #NaturalDisasters #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket https://en.infomaxai.com/news/articleView.html?idxno=63420
Korean Re Q1 Net Profit Rises 42.6% to 90.6 Billion Won, Exceeding Expectations
Korean Re reports strong Q1 performance with net profit up 42.6% to 90.6 billion won, surpassing market expectations despite major natural disasters, driven by diversified portfolio and improved underwriting
Update: #KoreanRe, Asia's 2nd largest reinsurer, finally adopted a coal exit policy. Too bad the policy is riddled with loopholes.
Korean Re should look to its international peers, like Swiss Re, for recs on stronger restrictions.
https://www.reinsurancene.ws/korean-re-rules-out-cover-for-coal-mining-or-power-plant-construction/ #InsureOurFuture #Insurance
Korean Re rules out cover for coal mining or power plant construction - Reinsurance News
Korean Re has announced that it will no longer provide reinsurance for new coal mining or power plant construction from the beginning of next year. The
#KoreanRe, the world's 13th biggest reinsurer, finally adopted a coal exit policy. Unfortunately the policy has so many loopholes it needs serious improvements to meet international standards. Read the critique by our Korean partner Solutions For Our Climate at
https://global.insure-our-future.com/south-koreas-only-reinsurer-announces-to-drop-new-coal-but-with-loopholes/ 
South Korea’s only reinsurer, Korean Re, announces to drop new coal, but with loopholes - Insure Our Future Global
Korean Reinsurance begins its move away from coal but too slowly, according to civil society December 6, 2022 – Asia’s second-largest reinsurance company, Korean Re, will no longer be providing reinsurance for new coal mining or power plant construction from next month. Reinsurance functions as insurance for insurance companies. If reinsurers restrict insurance coverage of …
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Peter Bosshard